U.S. retail receipts up year-on-year, down week-to-week

Aug. 13, 2013 at 1:42 PM

NEW YORK, Aug. 13 (UPI) -- U.S. retail sales for the first week of August were up 2.6 percent from same week last year but down 0.2 percent from the previous week, a trade group reported.

The International Council of Shopping Centers and Goldman Sachs Weekly Chain Store Sales Index, released Tuesday, estimated retail sales will gain 4.5 percent to 5 percent for the month.

"Aggregate chain store sales slipped a tad over this past week as some shifts in consumer spending occurred," said Michael Niemira, ICSC vice president of research and chief economist.

The weekly survey showed department stores, clothing stores, drug, grocery and specialty stores posted gains during the week ending Aug. 10. However, "discounters, dollar and electronics stores seemingly fell shy of their year-ago customer traffic pace," Niemira said.

The U.S. Census Bureau reported Tuesday retail and food-service sales rose for a fourth consecutive month in July.

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