Economy Watch: Sales and Gas

ICSC Retail Sales Data
The International Council of Shopping Centers and Goldman Sachs reported its chain-store sales index for the week ending on June 25, 2011 rose 2.9% from the week before, and was up 3.0% from the same period last year.

Shoppertrak Retail Sales Data
For the week ended June 25, 2011, ShopperTrak's National Retail Sales Estimate was $90.866 billion, down 7.9% from last week's $98.669 billion, and up 1.2% from the same week last year. As expected, post Father's Day (June 19) sales dropped. Sales should pick up in the week before July 4th weekend.

Slowing US Sales in May
The US Commerce Department's Bureau of Economic Analysis reported personal income increased $36.2 billion, or 0.3%, and disposable personal income increased $29.2 billion, or 0.2% in May. Personal consumption expenditures remained essentially flat, rising only $4.6 billion, or less than 0.1%. Although the numbers still trend upwards, the rate of increase flattened, indicating a slowing economy.

Gas Prices Down
The Energy Department announced that for week ending June 27, 2011, the average price of US gasoline fell to $3.574 a gallon, down from $3.652 per gallon week earlier.

Diesel prices remained at $3.95.