Retail slides slightly in week of 'uncertainty'

Oct. 8, 2013 at 10:16 AM
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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.

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