Michigan Retail Index
Michigan Retail Sales Climb in June
Michigan’s retail industry rang up its best sales performance in more than three years during June, according to the Michigan Retail Index, a joint project of Michigan Retailers Association (MRA) and the Federal Reserve Bank of Chicago.
"Coming out of the extremely tough winter, we finally saw an increase in sales in April, an unexpected drop in May and then a larger than anticipated increase in June. It makes more sense to view the entire 2nd Quarter as a rebound from the harsh winter," said James P. Hallan, Michigan Retail Association president and chief executive officer.
The June survey of MRA members showed 53 percent of retailers increased sales over the same month last year, while 23 percent recorded declines and 24 percent reported no change. The results create a seasonally adjusted performance index of 66.7, up from 47.7 in May. A year ago June the Index stood at 47.7.
Looking forward, 58 percent of retailers expect sales during July–September to increase over the same period last year, while 18 percent project a decrease and 24 percent no change. That puts the seasonally adjusted outlook index at 69.5, down from 79.3 in May. A year ago June the index stood at 79.3.