Michigan Retail Index
Michigan Retailers: Sales Remain Positive in Michigan
Michigan retailers expect more of the same after posting positive retail sales during April, according to the Michigan Retail Index, a joint project of Michigan Retailers Association (MRA) and the Federal Reserve Bank of Chicago.
“Our index has been in positive territory the past three months, up significantly since January’s slow start to the year,” said Michigan Retail Association President and Chief Executive Officer James P. Hallan.
The Michigan Retail Index survey for April found 51 percent of the state’s retailers increased sales over the same month last year, while 32 percent recorded declines and 17 percent reported no change. The results create a seasonally adjusted performance index of 54.5, down from 57.4 in March but still above the important 50 mark.
Looking forward, 72 percent of Michigan retailers expect sales during May – July to increase over the same period last year, while 11 percent project a decrease and 17 percent no change. That puts the seasonally adjusted outlook index at 74.3, down from 84.0 in March but well above the 50 level.
Nationally, retail sales excluding autos and gasoline, rose by 0.3 percent in April, according to the U.S. Commerce Department.