U.S. retail posts another solid week

For the second straight week, national sales rose dramatically year-over-year.

Sales were up 4.5 percent for the week that ended Saturday compared with the same week in 2013, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Stores Sales Index.

That figure was virtually unchanged from the week that ended July 26, when sales were up 4.6 percent compared with the previous year, according to the index.

Twelve states had a sales tax holiday last week, which boosted back-to-school sales throughout much of the country, said Michael Niemira, a research consultant with the council, in a statement.

Retail sales last week were up 0.2 percent compared with the previous week, according to the index, which was released Tuesday.

The New York-based council, a trade association with more than 67,000 members worldwide, is predicting that national sales in July will be up by more than four percent compared with July 2013.