Michigan Retail Index
Michigan Retailers Sales and Forecast Rise
Michigan retailers’ sales rebounded in June and expectations remained strong for the rest of summer, according to the latest Michigan Retail Index, a joint project of Michigan Retailers Association (MRA) and the Federal Reserve Bank of Chicago
“June’s sales growth is welcome news and points to continued improvement in the economy,” said MRA President and CEO James P. Hallan. “While consumer spending has fluctuated
The June survey of MRA members showed 53 percent of retailers increased sales over the same month last year, while 28 percent recorded declines and 19 percent reported no change. The results create a seasonally adjusted performance index of 63.9, up from 47.4 in May. A year ago June the performance index stood at 66.7.
Looking forward, 61 percent of retailers expect sales during July–September to increase over the same period last year, while 8 percent project a decrease and 31 percent no change. That puts the seasonally adjusted outlook index at 74.4, up from 73 in May. A year ago June the outlook index stood at 69.5.