U.S. Chain-Store Sales +3%

RAPAPORT... Weekly U.S. chain-store sales rose 2.9 percent year to year this past week, based on data collected by the International Council of Shopping Centers (ICSC) and Goldman Sachs. The week-to-week change was a sales decline of 0.7 percent.

"Sales dipped in the latest week from the prior week, though the year-over-year momentum continued only slightly under the prior week's pace," said Michael Niemira, ICSC's director of research and chief economist. "The weekly pace appears to be a bit more volatile than in recent weeks, but the month's easy comparisons will lift the year-over-year pace throughout the month. Overall for the month, ICSC Research expects sales will increase by 3 to 4 percent."