National retail sales flat in August, despite tax-free events

The International Council of Shopping Centers says retail sales were flat in the week ending Saturday compared to the previous week.
by Jennifer Palmer Published: August 9, 2012
Advertisement
;

Retail update

Retail flat despite tax-free days

Sales tax holidays in 12 states, including Oklahoma, weren't enough to boost back-to-school sales last week. According to the International Council of Shopping Centers, retail sales were flat for the week ending Saturday compared to the previous week. Year-over-year, retail sales inched up 2.4 percent.

Sharply rising gasoline prices contributed to consumers' cautious attitudes toward spending, the council said. The organization predicts sales will increase in August as back-to-school shopping picks up.

“Consumers were not in much of a shopping mood during the first week of the August fiscal month,” said Michael Niemira, vice president of research and chief economist. “However, as the reality of the new school year soon beginning for many students sinks in, ICSC expects back-to-school spending to accelerate.”

FROM STAFF REPORTS


by Jennifer Palmer
Investigative Reporter
Jennifer Palmer joined The Oklahoman staff in 2008 and, after five years on the business desk, is now digging deeper through investigative work. She's been recognized with awards in public service reporting and personal column writing. Prior to...
+ show more

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Antonin Scalia faults Sonia Sotomayor for 'doubly shameful' suggestion that Michigan voters are...
  2. 2
    The NRA Quietly Backs Down On Domestic Violence
  3. 3
    Tara Lipinski, Johnny Weir to work Kentucky Derby
  4. 4
    Oklahoma basketball: Juco guard set to visit Sooners on Wednesday
  5. 5
    Texas town ready to drink its own toilet water
+ show more