Recent Updates

  • New Zealand: NZIER Business Opinion Survey (Q3)
  • Hungary: Credit to Households and Nonfinancial Corporations (Aug)
  • US: Construction (Aug)
  • Markit: Mfg PMIs: Australia, ASEAN, Thailand, Vietnam, Malaysia, Taiwan,
  • more updates...

Economy in Brief

U.S. Chain Store Sales Backpedal
by Tom Moeller  July 16, 2013

The International Council of Shopping Centers and Goldman Sachs reported that chain store sales declined 1.1% last week (+1.7% y/y) but remained near the record high. So far in July sales are 3.5% above the June average after two months of decline. During the last ten years there has been a 61% correlation between the y/y change in chain store sales and the change in retail sales at general merchandise stores. That correlation recently has declined.

General merchandise store sales account for 15% of total retail sales. The ICSC-Goldman Sachs 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 chain store sales figures are available in Haver's SURVEYW database.

ICSC-Goldman Sachs (SA, 1977=100) 07/13/13 07/06/13 06/29/13 Y/Y 2012 2011 2010
Total Weekly Chain Store Sales 559.0 565.4 548.9 1.7% 3.0% 3.2% 2.9%
   W/W % -1.1 3.0 0.6 -- -- -- --
large image