IE Business Daily Business news for the Inland Empire.
The summer shopping season is off to a solid start.
National retail sales were up 3.1 percent year-over-year for the week that ended Saturday, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Store Sales Index.
Sales were up 2.9 percent compared with the previous week, according to the index, which was released today.
That week included the last two days of the Memorial Day weekend.
Retail sales rose for several reasons, including some deferred spending from the previous week and good weather throughout much of the country, said Michael Niemira, the council’s chief economist and vice president of research.
On Thursday, the council is scheduled to release its data for May. Council researchers are standing by their prediction of a three to 3.5 percent year-over-year increase in same-store sales for the month, according to the index.
