By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index fell one point in
the June 11 period to 58.9, above 50 to indicate solid year-on-year
growth in business conditions but nevertheless below trend to indicate
slowing growth, according to the results of Market News International’s
weekly survey released Monday.
Disappointing traffic is the sample’s drumbeat, the result of high
gas prices that are limiting shopping trips and limiting the consumer’s
ability and desire to spend.
Total sales are unchanged in the period at a year-on-year +5.0%
with same-store sales unchanged at +3.0%.
When adjusted for the monthly readings, these rates point to a 0.5%
decline for the government’s ex-auto ex-gas category in May.
When including price-swollen gasoline sales, the decline for the
May ex-auto reading looks to come in a bit, to a -0.3% headline based on
this sample.
Motor vehicle sales, based on all available evidence, flopped badly
in May and look to dominate the month’s data. This sample points to a
-1.0% print for the total headline.
Income growth for the sample, at +9% in the latest period, has been
steady and respectable so far this year, trending from the low double
digits to the mid single digits. Sample size in the period is 169 chains
making up 153,700 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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