Weekly Chain Store Sales Up Slightly
by:Tom Moeller
|in:Economy in Brief
Summary
Chain store sales rose a slight 0.3% last week but it was only the second weekly rise in the last six. April sales began 0.7% below the March average. The latest week contained the last day of March. The final tally placed sales last [...]
Chain store sales rose a slight 0.3% last week but it was only the second weekly rise in the last six. April sales began 0.7% below the March average.
The latest week contained the last day of March. The final tally placed sales last month down 0.4% from the February average.
The BTM leading indicator of chain store sales also weakened through March, falling in three of five weeks, notably in the last week.
During the last ten years there has been a 20% correlation between the monthly percent change in chain store sales and the change in consumer confidence.
BTM-UBSW (SA, 1977=100) | 4/06/02 | 3/30/02 | Y/Y | 2001 | 2000 | 1999 |
---|---|---|---|---|---|---|
Total Weekly Retail Chain Store Sales | 403.7 | 402.5 | 6.2% | 2.1% | 3.4% | 6.7% |
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.