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September 15, 2005
August Sales
August sales figures are in and although slightly softer than expected, they managed to withstand concern over rising energy costs to post moderate gains. U.S. retailers reported a 3.6 percent spike in sales for August, according to the International Council of Shopping Centers. The ICSC forecast a 4 percent gain for the month, but energy costs and unseasonably warm weather served to cool the market somewhat.
The luxury market fared much better, however, posting 7.3 percent gain in August, according to the ICSC.
The U.S. Commerce Department released its own figures, citing a 1-percent gain in retail sales last month, excluding autos. Meanwhile, inventories have been falling, according to the Fed. This could lead businesses to increase production in the fourth-quarter to rebuild stockpiles, it said.
Posted by Blacks on September 15, 2005 11:11 AM
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