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Economy in Brief

U.S. Chain Store Sales Ticked Up
by Tom Moeller August 26, 2008

According to the International Council of Shopping Centers, chain store sales ticked up 0.2% last week after the 0.1% rise during the week prior. So far in August sales are up 0.2% from the July average after that month's 0.5% rise.

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.

The leading indicator of chain store sales from ICSC-UBS increased 0.5% (-4.8% y/y) after having been unchanged during the week prior.

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

Monetary Policy in Uncertain Times (With a Salute to Julius Squeezer and Mr. Bean) are remarks made by Dallas Fed President Richard W. Fisher and they can be found here

ICSC-UBS (SA, 1977=100) 08/22/08 08/15/08 Y/Y 2007 2006 2005
Total Weekly Chain Store Sales 494.7 493.8 2.3% 2.8% 3.3% 3.6%
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