By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade indicator slowed by 3.1
points in the Aug. 18 period to 58.8, a level that 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 +3.7% with same-store sales at
+2.3%.
When adjusted and compared against July, MNI’s data are offering an
early indication of a +0.4% headline for the government’s August retail
sales report.
The lift so far this month is centered at gas stations where sales
are getting a boost from rising prices together with indications of
rising demand.
Otherwise MNI’s sample looks mixed with general merchandise showing
strength and with building materials looking to post a second straight
monthly rebound. On the negative side are restaurants and apparel which
are so far tracking at a monthly decline.
The sample’s income growth is solid at +7% for a third straight
week. Sample size in the period is 240 chains representing 233,500
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 **
[TOPICS: MDURE$,MT$$$$,M$U$$$,M$UEQ$,MAUDS$]