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Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
by Tom Moeller October 21, 2008
According to the International Council of Shopping Centers, chain store sales fell 1.6% last week. The decline more than reversed the gains of the prior two weeks. The level of sales so far October were 1.0% below the September average which fell 1.9% from August.
The level of sales during the latest week was near the lowest since December of last year. During the last ten years there has been a 45% correlation between the y/y change in chain store sales and the change in nonauto retail sales less gasoline.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.
The leading indicator of chain store sales from ICSC-Goldman Sachs fell 0.2% (-4.8% y/y).
The chain store sales figures are available in Haver's SURVEYW database.
| ICSC-UBS (SA, 1977=100) | 10/18/08 | 10/11/08 | Y/Y | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 477.0 | 484.7 | 0.9% | 2.8% | 3.3% | 3.6% |
