Same-Store Retail Sales Continue Strong

At 4.4 percent in the August 10 week, Redbook's sample continues to report very strong same-store annual sales growth yet slower growth than recent months. This reading was in the 5 percent range and even hit 6.2 percent in early July but has since averaged 4.7 percent. Consumer spending contributed strongly to second-quarter GDP but this report hints at less contribution so far in the third quarter.