2013 Economic Calendar
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Released On 8/13/2013 8:55:00 AM For wk8/10, 2013
Store Sales Y/Y change3.7 %3.7 %

Year-on-year rates of sales growth are ticking higher so far in August based on both ICSC-Goldman, which was released earlier this morning, and now on Redbook whose plus 3.7 percent rate lifts its 4-week average by 2 tenths to 3.4 percent. This is the highest average since April last year!

Redbook attributes the week's strength to back-to-school tax holidays in a number of states, but it stresses that it's too early to judge the strength of back-to-school demand. Still, Redbook is calling for a monthly 0.4 percent rise for August which points to another month of strength for the ex-gas ex-auto reading of the government's retail sales report which just morning this shows the same plus 0.4 percent gain for July.

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.  Why Investors Care

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