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Economy in Brief

U.S. Chain Store Sales Slid
by Tom Moeller June 3, 2008

The International Council of Shopping Centers reported that chain store sales slid 0.8% last week from the week earlier.

The latest weekly sales decline pulled the total during all of May down 0.9% from April; during which sales rose 1.0%.

During the last ten years there has been a 45% correlation between the y/y change in chain store sales and the change in nonauto retail sales less gasoline.

The ICSC-UBS retail chain-store sales index is constructed using the same-store sales (stores open for one year) reported by 78 stores of seven retailers: Dayton Hudson, Federated, Kmart, May, J.C. Penney, Sears and Wal-Mart.

During the latest week, the leading indicator of chain store sales from ICSC-UBS was unchanged week-to-week and was down 3.0% from one year earlier.

The chain store sales figures are available in Haver's SURVEYW database.

ICSC-UBS (SA, 1977=100) 05/31/08 05/24/08 Y/Y 2007 2006 2005
Total Weekly Chain Store Sales 484.3 488.2 1.2% 2.8% 3.3% 3.6%
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