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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: zonder who wrote (11181)	8/31/2004 10:02:07 AM
From: mishedlo	Read Replies (1) of 116555

ICSC-UBS weekly retail index falls 0.2% Tuesday, August 31, 2004 12:01:49 PM WASHINGTON (AFX) -- U.S. retail chain store sales fell 0.2 percent last week, according to the weekly index released by the International Council of Shopping Centers and UBS. Sales were up 2.6 percent year-over-year, the weakest growth in just over a year. For August, ICSC chief economist Mike Niemira is now projecting same-store sales will rise 1.5 to 2 percent. "Overall, August has been a disappointing month as it was battered by a series of special factors - higher gasoline prices, Hurricane Charley, sales tax holidays throughout the country, and a shift in the date of Labor Day and its related promotions that largely, though not completely, pared reported sales growth," Niemira said ======================================================================= Sales tax holidays hurt retail sales? WTF? Mish

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