Weather, gas prices soften retail sales - The Business Blog

A combination of warm weather and rising gasoline prices is credited for softer?retail sales this past week.

According to International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index,?sales declined 1.0 percent.? On a year-over-year basis, retail sales also slowed by 2.7%.?

?Michael Niemira, ICSC vice president of research and chief economist called the?results are a continuation of?a ?relatively choppy sales pattern that the industry has been experiencing since January.?

For February, ICSC Research?anticipates comparable-store sales for the retail industry will increase by 3.0 ? 3.5%.

Source: http://data.greenvilleonline.com/upstatebusiness/blog/index.php/weather-gas-prices-soften-retail-sales/

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