News Column

Retail Sales Hit a Summer Lull, Trade Group Says

Aug 28, 2013
consumer confidence

U.S. retail sales have hit a summer lull, a national trade group said.

The International Council of Shopping Centers said that sales receipts for the week ending Saturday rose 0.2 percent from the previous week with gains from the same week of 2012 slowing down to 1.9 percent, the slowest pace since July 13.

"Overall, most retail segments were sluggish this past week as the summer lull kicked in," said Michael Niemira, ICSC vice president of research and chief economist in a statement released Tuesday.

"Hopefully, an uptick in back-to-school and fall apparel demand in the last week of the fiscal month will kick up the sales pace for the month," Niemira said, noting there were gains in the week made at grocery, electronic, jewelry and book stores.



Source: Copyright UPI 2013


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