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Economy in Brief

U.S. Chain Store Sales Recover W/W
by Tom Moeller  November 11, 2014

The International Council of Shopping Centers and Goldman Sachs reported that chain store sales improved 1.5% last week, but the gain only recovered the prior week's decline. Sales began this month roughly equal to October when purchases fell 1.3% m/m, roughly mimicking the declines during the prior two months. 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) 11/08/14 11/01/14 10/25/14 Y/Y 2013 2012 2011
Total Weekly Chain Store Sales 556.0 547.8 556.8 2.1% 2.3% 3.0% 3.2%
   W/W % 1.5 -1.6 0.3 -- -- -- --
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