Monday, 19th July 2004 (4266 views)

Retail sales in the US have reported a considerable growth according to ShopperTrak's National Retail Sales Estimate (NRSE).

For the week ending July 10, sales increased by 11.3 per cent compared to the same week last year and consumer confidence appears high.

Michael Niemira, chief economist and director of research for the International Council of Shopping Centers told JCK: "Despite some worry about the sustainability of consumer spending, the robust sales figures through June suggest there is no reason for concern."

It is hoped clearance sales will also help to ensure that retail sales continue to perform well.

Weekly sales results also saw a slight increase of 0.7 per cent.

 

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