Release Date: April 27, 2003
Phone: 954-893-7300
Fax: 954-893-7500
E-mail: nasfm@retailenvironments.org

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APRIL 2003

Economic indexes are still sending mixed signals. Durable goods orders in March rose 2 percent in March to $173.6 billion, but industrial output in the same month dropped 0.5 percent, the worst showing in three months. Then overall GDP in the first quarter grew 1.6 percent, a modest showing. The unemployment rate remained at 5.8 percent, but the number of workers filing jobless claims in March rose. The consumer price index rose 0.3 percent, due solely to higher energy costs.

LUMBER PRICES. The Bureau of Labor Statistics producer price index showed overall lumber price index in March at 170.7 (1982 equals 100), the same as the previous month but down from 174.8 for the same month a year ago. Hardwood lumber was at an index of 185.6, up from 183.0 for the preceding month and up from 177.0 the same month a year ago. Millwork prices were at an index of 180.2 almost even with 180.0 the preceding month and 179.2 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 March was 473,200, the same as a revised 473,000 the previous month and down from 493,300 for the same month a year ago. Average hourly wage was $12.82 an hour, even with $12.81 the previous month but up from $12.57 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 $4.0 billion value of retail and non-office commercial construction in February, ev3n with $3.9 billion for the previous month, but down from $4.4 billion for the same month a year ago.

RETAIL SALES. Seasonally adjusted retail sales (excluding automotive) in march totaled $235.81 billion, up from a revised $233.33 billion for the previous month and up from $225.08 billion for the same month a year ago. Unadjusted retail sales were $227.99 billion, up from $204.52 billion for the previous month, and up from $221.82 billion a year ago. Seasonally adjusted department store sales totaled $18.24 billion, even with $18.28 billion the previous month but down slightly from $19.13 billion a year ago. Seasonally adjusted apparel and clothing store sales totaled $14.85 billion, even with $14.68 billion for the previous month and even with $14.65 billion for the same month a year ago.