facebook
twitter
rss
account
search
search
 

Retail slides slightly in week of 'uncertainty'

Oct. 8, 2013 at 10:16 AM   |   Comments

NEW YORK, Oct. 8 (UPI) -- A U.S. retail trade group said sales receipts at chain stores dropped slightly in the week ending Saturday due to economic uncertainty.

"Consumers continued to feel the headwinds from political and economic uncertainty over the past week as retail business weakened across most segments," the International Council of Shopping Centers said in a weekly sales report.

Business was down 0.1 percent compared to the previous week. The exceptions were in discount and dollar stores, said ICSC vice president of research and chief economist Michael Niemira in a statement released Tuesday.

"With the backdrop of the federal government shutdown, it is hard to say how much the retail weakness over the past week was due to that situation and how much it will affect sales moving forward," he said.

Sales were off slightly week to week, but up 1.8 percent compared to the same week of 2012, the trade group said.

The weekly survey is prepared by ICSC in conjunction with investment bank Goldman Sachs.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
4
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
5
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
Trending News
Around the Web
x
Feedback