Weekly US chain store sales rose 0.1% last week. If this is indeed a rise, it would be the first consecutive increase in weekly sales since mid July. The 4-week moving average did turn up, possibly finding support at the 500 level. Nonetheless, the 4-week m.a. is up only 2.1% YoY. At best a relief that sales are not tumbling anymore.


That said, Consumer Metrics Institute’s daily retail index shows no momentum building at month end.

Retail Sector Leading Indicator for Past 30 Days

As well, Gallup’s spending polls show a weakening trend by month-end.

image (Gallup’s consumer spending measure tracks the average dollar amount Americans report spending or charging on a daily basis, not counting the purchase of a home, motor vehicle, or normal household bills. Respondents are asked to reflect on the day prior to being surveyed and results are presented here in both a 3-day and 14-day rolling average. Results are based on telephone interviews with approximately 1,500 national adults; Margin of error is ±3 percentage points.)


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