Recent Updates

  • Italy: CPI, HICP Final (Sep)
  • UK: Claims (Sep), Earnings (Aug), Employment (Jul)
  • Turkey: Trade & Service Indices (Aug); Iraq: Public Budget (Jul)
  • Croatia: CNB Balance Sheet (Sep-Prelim), CPI, HICP (Sep), Hungary: BOP (Aug); Russia: Core CPI ex Food & Petrol (Sep); Czech Republic: PPI (Sep); Lithuania: PPI, CPI (Sep); Montenegro: HICP (Sep)
  • Finland: Trend Indicator of Output (Aug); Norway: House Price
  • more updates...

Economy in Brief

U.S. Chain Store Sales Disappoint as Holiday Season Begins
by Tom Moeller  December 3, 2013

Sales at chain stores began the holiday sales season on a weak footing. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales fell 2.8% (+2.5% y/y) last week following a 2.6% rise during the week earlier. For November as a whole, sales ticked up just 0.1% m/m following no change during October. During the last ten years there has been a 70% correlation between the y/y change in chain store sales and the change in retail sales at general merchandise stores.

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. General merchandise store sales account for 15% of total retail sales. The data can be found in Haver's SURVEYW database.

ICSC-Goldman Sachs (SA, 1977=100) 11/30/13 11/23/13 11/16/13 Y/Y 2012 2011 2010
Total Weekly Chain Store Sales 544.1 559.6 545.2 2.5% 3.0% 3.2% 2.9%
   W/W % -2.8 2.6 0.1 -- -- -- --
close
large image