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02/08/05

Permalink 11:07:47 am, Categories: Economics, 146 words  

Retail sales still strong in US

Chain-store sales in the United States rose for the fifth straight week in the last week of July, according to a survey by the International Council of Shopping Centers and UBS.

Consumers, spurred on by hot weather, continued to purchase seasonal products. Back-to-school buying also helped the gain in sales, although sales in this category were off to a slow start due to the weather. According to the report, sales were up 0.9 percent in the week ending July 30, the strongest result since April 16, when sales grew by 1.0 percent. Compared to the same week last year, sales were up 4.9 percent for the week.

Sales had risen 0.4 percent the week ending July 23 this year; they were up 4.2 percent compared to the same week last year. The Weekly Chain Store Snapshot takes its data from weekly sales results issued by a group of major department, discount, and chain stores.

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