New York, November 9--The International Council of Shopping Centers-UBS Retail Chain Store Sales Index rose by 1.3% in the week ended Nov. 6 compared to the week before, on a seasonally adjusted, comparable-store basis, according to data released Tuesday. This followed a decrease of 0.3% in the prior week.
"Sales snapped back over the last week following three consecutive weekly declines," said Mike Niemira, chief economist at ICSC who compiles the index. "This week's increase largely offset much of the prior week's decline and got the month and the holiday season off to a better-than-expected start."
The index increased at a 3.0% rate of increase on a year-over-year basis in the week ended Nov. 6 after a 2.9% increase in the prior week.
