"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Tuesday, March 8, 2011

ICSC-Goldman Store Sales

We move now to major retail chain store sales, with the International Council of Shopping Centers-Goldman Store Sales report.  This is a look at weekly and year-over-year changes in comparable store sales  at major retail chains only, accounting for about 10% of total retail sales.  Because of the limited scope of the report, this is not in and of itself a major market mover.  At best, it can be considered an indicator of overall economic activity.
 
Since the ICSC requires a paid subscription to access the report directly, the data is provided second-hand (in this case, from Econoday).  For the week ending 3/5/2011, sales were up 2.3% for the week and 2.6% year-over-year.  The weekly sales are a substantial improvement (2/25 had them down 0.5%), but the year-over-year sales are slightly disappointing after last week's 3.3% increase.
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