Release
Date: October 28, 2002
Phone: 954-893-7300
Fax: 954-893-7500
E-mail: nasfm@retailenvironments.org
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OCTOBER
2002
Economic
indexes continued mixed. Disturbing signs emerged in the manufacturing
sector, where durable goods orders fell 5.9% in September,
the biggest decline in 10 months. Manufacturing orders slipped
to an index reading of 49.5 (any figure below 50 indicates
a decline). The University of Michigan consumer confidence
index dropped to its lowest level in nearly 10 years. On the
plus side, housing continued strong. New housing starts jumped
a strong 13.3% in September, the biggest monthly increase
since 1995. New jobless claims fell more than expected in
September. The workforce productivity also is expected to
jump 4.5% this year, compared to an annual rate of 2.4% in
the last several years.
LUMBER PRICES. The Bureau of Labor Statistics producer
price index showed overall lumber price index in September
at 168.1 (1982 equals 100), down from 169.6 for the previous
month but down from 173.1 for the same month a year ago. Hardwood
lumber was at an index of 178.9, up slightly from 178.4 for
the preceding month and the same as 178.9 the same month a
year ago. Millwork prices were at an index of 180.2, even
with 180.4 the preceding month, and even with 180.6 a year
earlier.
FIXTURE LABOR FORCE. The Bureau of Labor Statistics
reported that the total number of workers in the fixture and
furniture industry in September was 488,900, down from a revised
494,900 the previous month and down from 506,100 for the same
month a year ago. Average hourly wage was $12.75 an hour,
virtually unchanged from a revised $12.72 the previous month
but up from $12.39 an hour a year ago.
NEW STORE CONSTRUCTION. As partially reflected in Commerce
Department figures on new commercial construction excluding
office and hotels, new stores were part of the $4.8 billion
value of retail and non-office commercial construction in
August, even with $4.7 billion for the previous month, but
down from $5.5 billion for the same month a year ago.
RETAIL SALES. Seasonally adjusted retail sales (excluding
automotive) in September totaled $229.05 billion, even with
a revised $228.92 billion for the previous month and up from
$217.64 billion for the same month a year ago. Unadjusted
retail sales were $216.41 billion, down from $236.14 billion
for the previous month, but up from $206.60 billion a year
ago. Seasonally adjusted department store sales totaled $18.74
billion, even with $18.84 billion the previous month but down
slightly from $19.10 billion a year ago. Seasonally adjusted
apparel and clothing store sales totaled $14.34 billion, even
with $14.47 billion for the previous month and even with $14.43
billion for the same month a year ago.