Release Date: October 27, 2005
Phone: 954-893-7300
Fax: 954-893-7500
E-mail: nasfm@retailenvironments.org

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OCTOBER 2005

Economic data was mixed, although the Federal Reserve Board rated the economy as strong. Durable good shipments in September rose 0.1% to $209.9 billion, the highest level since the Census Bureau started its survey in 1992. However, new orders for durable goods slipped 2.1% in the month to $207 billion. The index of leading economic indicators slipped 0.7% in September to 136.8, following two months of declines. The Conference Board reported consumer confidence fell in October for the second straight month to an index of 85.0, down from 105.5 in August. On a positive note, new housing starts in September rose 3.4%, the largest monthly jump since February.

LUMBER PRICES. The Bureau of Labor Statistics producer price index showed overall lumber price index in September at 196.6 (1982 equals 100), up from 192.9 the previous month, but down from 218.5 for the same month a year ago. Hardwood lumber was at an index of 194.9, down from 195.1 for the preceding month and down from 195.4 for the same month a year ago. Millwork prices were at an index of 198.0, up from 196.9 for the preceding month and up from 195.4 a year earlier.

FIXTURE LABOR FORCE. The Bureau of Labor Statistics reported that the average hourly wage in the fixture and furniture industry in September was $13.58 an hour, up from $13.47 the previous month and up from $13.39 an hour a year ago. The average work week of non-supervisory workers was 39.6 hours, the same as the previous month but up from 38.8 hours 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 $6.45 billion value of retail and non-office commercial construction in August, up slightly from a revised $6.20 billion for the previous month, and up from $6.14 billion for the same month a year ago.

RETAIL SALES. Seasonally adjusted retail sales (excluding automotive) in September totaled $278.09 billion, up from a revised $275.18 billion for the previous month and up from $253.69 billion for the same month a year ago. Unadjusted retail sales were $269.69 billion, down from $280.95 billion for the previous month, but up from $243.94 billion a year ago. Seasonally adjusted department store sales totaled $17.62 billion, down slightly from $17.70 billion the previous month and down from $17.98 billion a year ago. Seasonally adjusted apparel and clothing store sales totaled $16.67 billion, almost even with $16.71 the previous month and up from $15.77 billion for the same month a year ago.