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. It is a less consistent indicator of retail sales than the weekly ICSC-Goldman index. It is also calculated differently than other indicators. For instance, figures for the first week of the month are compared with the average for the entire previous month. When two weeks are available, then these are compared with the average for the previous month, and so on through the month. It might be more useful to compare year-over-year figures since these are indeed compared to the comparable week a year ago. This index is correlated with the general merchandise portion of retail sales covering about 10 percent of total retail sales.
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