Global| Feb 26 2002Weekly Chain Store Sales Fall Just Slightly
by:Tom Moeller
|in:Economy in Brief
Summary
Chain store sales fell 0.4% during the last full week of February. The decline followed two consecutive weeks during which sales had surged. Sales for most of the month of February are now 2.5% above January. During the last nine [...]
Chain store sales fell 0.4% during the last full week of February. The decline followed two consecutive weeks during which sales had surged.
Sales for most of the month of February are now 2.5% above January.
During the last nine years there has been a 28% correlation between the monthly percent change in chain store sales and the change in general merchandise store sales as published by the Commerce Department.
| BTM-UBSW (SA, 1977=100) | 2/23/02 | 02/16/02 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Total Weekly Retail Chain Store Sales | 413.1 | 414.7 | 5.1% | 2.1% | 3.4% | 6.7% |
by Tom Moeller February 26, 2002
The Conference Board’s Index of Consumer Confidence fell unexpectedly in February. January's level was revised up slightly.
The fall in the Conference Board measure was in-line with the mid-month University of Michigan reading that consumer sentiment declined this month.
The rise in confidence reflected lower readings for both consumer expectations and confidence regarding the present situation.
The Conference Board's survey is conducted by a mailed questionnaire to 5,000 households and about 3,500 typically respond.
| Conference Board | Feb '02 | Jan '02 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Consumer Confidence | 94.1 | 97.8 | -13.8% | 106.6 | 139.0 | 135.3 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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