IE Business Daily Business news for the Inland Empire.
National retail sales bounced back slightly last week, despite bad weather in some parts of the country
Sales were up 0.4 percent for the week that ended Saturday compared with the previous week, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Stores Sales Index.
Overall sales jumped 3.1 percent compared with the same week in 2013, according to the index, which was released today.
Both numbers indicate that the national retail market is getting stronger, said Michael Niemira, the council’s chief economist and vice president.
“The good news is that despite some unfavorable seasonal weather, consumers were still out shopping during this weekend,” Niemira said in a statement. “Business was up sharply relative to the same week of the prior year for wholesale clubs, and up appreciably for apparel, dollar, furniture, discounter, office and department stores.”
The council, the world’s largest trade organization for shopping centers, is predicting a 3.5 percent year-over-year increase in retail sales this month.
