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Economy in Brief

U.S. Chain Store Sales Continue To Firm
by Tom Moeller  July 9, 2014

The International Council of Shopping Centers and Goldman Sachs reported that chain store sales increased 1.7% (3.3% y/y) last week, the third week of strong gain. Sales began this month 3.6% above the June average which slipped 0.2% from May. 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.

Slow Business Start-Ups and the Job Recovery from the Federal Reserve Bank of San Francisco is available here.

ICSC-Goldman Sachs (SA, 1977=100) 07/05/14 06/28/14 06/21/14 Y/Y 2013 2012 2011
Total Weekly Chain Store Sales 583.8 574.1 568.2 3.3% 2.3% 3.0% 3.2%
   W/W % 1.7 1.0 2.0 -- -- -- --
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