Same-Store Retail Sales Strong, But Slowing

Redbook sales growth remains strong but has slowed abruptly from exceptional rates through much of September and August. Redbook's sample reported same-store sales growth of 4.3 percent in the October 19 week, up 2 tenths from the prior week but compared to 5 and even 6 percent rates through much of the past two months. Definitive data on retail sales proved flat in September (data released last week) and the latest signals from Redbook are not pointing to acceleration for October.