By Joshua Jamerson
The Weekly Retail Chain Store Sales Index climbed 1.4% in the week ended Saturday from the previous week on a seasonally adjusted, comparable-store basis, according to data compiled by Goldman Sachs and Retail Economist LLC.
Year-over-year, sales rose by a more sluggish 0.6%.
Michael Niemira, chief economist of Retail Economist, said the surveys suggest that even though most customers have at least begun their holiday shopping, fewer have completed thier shopping than the historical trend.
"Sales volume tends to be much stronger in the second half of November than during the first half as holiday shoppers turn their attention to bargain hunting and gift buying in earnest," Mr. Niemira said. "Given the weak breadth to sales during the first half of November, consumers may be more willing to be out in force shopping during Thanksgiving week."
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(END) Dow Jones Newswires
November 22, 2016 07:58 ET (12:58 GMT)
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