August 27, 2013

Home Prices up. Chain Store Sales Flat.

August 27, 2013

Home Prices up. Chain Store Sales Flat.

ICSC-Goldman Store Sales  (week ended 8/24/2013)

– Store Sales Week/Week  0.2%. Previous was -1.9%.

– Store Sales Year/Year  1.9%. Previous was 2.2%.

Redbook (week ended 8/24/2013)

– Store Sales Year/Year 3.8 %. Previous was 3.4%

Consumer Metrics Institute

This near real time index correctly forecasted the uptick in Chain Store Sales  but the recent days of the Absolute Demand Index are flat.  This indicates that a flat reading for next week’s Chain Store Sales is likely.

The reports together are not indicative of increased consumer spending.

S&P Case-Shiller Home Price Index (June 2013)

– 20-city, Seasonally Adjusted Month/Month  +0.9%. Previous was +1.0%

– 20-city, not Seasonally Adjusted Month/Month 2.2 %. Previous was +2.4%

– 20-city,  not Seasonally Adjusted Year/Year 12.1%. Previous was +12.2%

Consumer Confidence (August 2013)

– Consumer Confidence  81.5. Previous was 80.3.

This is the Conference Board’s number and while remarkably strong needs to turn into spending to help the economy.

Richmond Federal Reserve Manufacturing Index (August 2013)

– Change in level was +14. Previous was -11