By Mark Pender
NEW YORK (MNI) ? MNI?s U.S. retail trade index slipped six tenths
in the Aug. 20 period to 61.0, still well over 50 to indicate strong
growth in year-on-year business conditions, according to the results of
Market News International?s weekly survey released Monday.
Total sales are unchanged at a year-on-year +4.4% with same-store
sales down two tenths to +3.1%.
Readings are holding near July levels but sales are going to have
to pick up dramatically to offset what are unusually difficult seasonal
adjustments.
At current sales levels, this sample is pointing to a big 1.0%
decline for the government?s retail sales headline for August.
Though early commentary on August is surprisingly upbeat, chains
are incrementally scaling back second-half guidance given the buckling
in the financial markets and in consumer confidence data.
Income remains very flat, at a year-on-year +2.0% that reflects
heavy discounting by much of the sample. Sample size in the period is
237 chains making up 202,100 separate retail locations.
Editor?s Note: MNI compiles its retail trade index based on a
weekly sample of company news and data.
** Market News International New York Newsroom: 212-669-6430 **
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Source: http://feedproxy.google.com/~r/forexlive-rss/~3/O14ZJGqAYhA/
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