Redbook continues to report steadily rising rates of year-on-year same-store sales growth, at plus 2.9 percent in the June 15 week vs 2.8 percent in the prior week. Redbook cites warming temperatures in most regions which is helping to move seasonal goods including summer apparel and air conditioners. Despite the steady gains, Redbook's data so far this month point to a 0.4 percent decline for month-to-month sales which is a negative indication for the government's ex-auto ex-gas reading.
A weekly measure of comparable store sales at chain stores, discounters, and department stores. Redbook tracks week-to-week change, month-to-date change, and year-on-year change with the latter the most closely watched reading. The report offers early indications on ex-auto ex-gas retail sales.
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