Global| Nov 12 2002Weekly Chain Store Sales Up Again
by:Tom Moeller
|in:Economy in Brief
Summary
Chain store sales rose last week, according to the BTM-UBSW survey. The 0.5% rise was the third weekly gain in the last four weeks and followed a 1.1% gain in the prior week. So far in November, sales were even with the average sales [...]
Chain store sales rose last week, according to the BTM-UBSW survey. The 0.5% rise was the third weekly gain in the last four weeks and followed a 1.1% gain in the prior week.
So far in November, sales were even with the average sales level in October which was down 1.5% from September.
During the last ten years there has been a 38% correlation between the year-to-year percent change in monthly chain store sales and the change in nonauto retail sales.
| BTM-UBSW (SA, 1977=100) | 11/09/02 | 11/02/02 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Total Weekly Retail Chain Store Sales | 402.0 | 399.9 | 2.7% | 2.1% | 3.4% | 6.7% |
by Tom Moeller November 12, 2002
The trade weighted value of the US dollar has fallen sharply this month on anticipation and news of Fed ease, plus a weak US economy. The trade weighted value of the US dollar fell 1.0% during both last week and the week prior.
The dollar has now given back most of its gain earlier this year.
Commodity prices have continued to move sideways recently. Declines in petroleum prices have been offset by moderate increases in the prices of textiles and metals.
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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