Research >> Economics
ICSC Chain Store Sales rose 0.6% in Sept 22 Wk
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The ICSC‐Goldman Sachs (ICSC‐GS) chain store sales index for the week ending September 22 rose by 0.6% from the prior week and its year‐over‐year momentum also accelerated to 2.9% from 2.1% in the prior week. The ICSC‐GS consumer tracking survey found that overall customer traffic strengthened during this past week compared with either last week or the same week of the prior year. Discounter business was noticeably stronger in the latest week with specialty stores also stronger.
According to Weather Trends, Inc. (WTI) the U.S. average nationwide temperature was 1.1°F cooler than last year and near its normal average (0.4°F cooler). WTI observed that the Upper Midwest had its “first widespread frost and freeze event,” while a cold front in the East likely boosted “fall seasonal apparel.” Gasoline prices dipped in the latest week after an eleven week run‐up of over 50 cents per gallon.
The U.S. average regular‐grade gasoline price declined by 5.2 cents per gallon to $3.826 on September 24, according to the U.S. Energy Information Administration. Despite the sequential week decline, the national average price of gallon of regular‐grade gasoline continued to increase on a year‐over‐year basis for its seventh consecutive week ‐‐ up 9.0% compared with the same week of the prior year.
Posted: September 25, 2012 Tuesday 07:45 AM