Michigan Retailers Optimistic Despite Slow Sales - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Michigan Retailers Optimistic Despite Slow Sales

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(WLNS) - Michigan retailers’ outlook rose to its most optimistic level in more than nine years in May, following sluggish sales that didn’t keep pace with April’s post-winter surge, according to the Michigan Retail Index.

Retailers are optimistic despite sales dropping off in May.

“We expected sales to keep rising in May after a strong rebound in April. Instead, they fell off,” said James P. Hallan, MRA president and CEO. “Retailers’ optimism continued rising anyway, likely because they know the economy is improving and consumers should be willing to spend.”

Retailers’ 90-day sales forecasts rose more than five points in May after shooting up by 11 points in April.

The May survey of MRA members showed 30 percent of retailers increased sales over the same month last year, while 46 percent recorded declines and 24 percent reported no change. The results create a seasonally adjusted performance index of 47.7, down from 51.1, in April. A year ago May the Index stood at 54.9.

The index is a joint project of Michigan Retailers Association (MRA) and the Federal Reserve Bank of Chicago.



 

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