By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade indicator accelerated by
eight tenths in the Aug. 25 period to 59.6 and remains well above
breakeven 50 to indicate solid growth in year-on-year business activity,
according to the results of MNI’s weekly survey released Monday.
Total year-on-year sales growth is +3.5% with same-store sales at
+2.4%.
MNI’s data, when adjusted for a monthly comparison, point to a 0.5%
headline for the government’s August retail sales report.
Gas station sales look to give a big lift to the government’s
report as rising prices at the pump do not appear to be crimping demand.
Also looking positive are two other very large components, general
merchandise and building materials. Apparel and restaurants are looking
soft.
The sample’s income growth is solid at +7%. Sample size in the
period is 239 chains representing 234,000 separate retail locations.
Editor’s Note: MNI compiles its retail trade indicator based on a
weekly sample of company news and data.
** MNI New York Bureau: 212-669-6430 **
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