June 2016
3
MICHIGAN RETAIL INDEX
Sales, forecasts positive for first month of spring results create a seasonally adjusted performance index of 66.0, up from 53.3 in March. A year ago April the performance index stood at 57.6. The 100-point index gauges the performance of the state’s overall retail industry, based on monthly surveys conducted by MRA and the Federal Reserve Bank of Chicago’s Detroit branch. Index values above 50 generally indicate positive ac-
Current
Performance Index
tivity; the higher the number, the stronger the activity. Looking forward, 76 percent of retailers expect sales during May-July to increase over the same period last year, while 8 percent project a decrease and 16 percent no change. That puts the seasonally adjusted outlook index at 80.1, up from 73.2 in March. A year ago April the outlook index stood at 74.7.
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30
State sales tax collections totaled $593.3 million in April, up from $561 million in March and $573.6 million a year ago April. Complete results of this month’s Michigan Retail Index—including data on sales, inventory, prices, promotions and hiring—are available at www. retailers.com/mra/news/michiganretail-index.html. The website includes figures dating back to July 1994.
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Outlook Index
80
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574
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513 468
300
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Michigan retailers’ sales and forecasts rose during the first full month of spring, according to the latest Michigan Retail Index survey, a joint project of Michigan Retailers Association (MRA) and the Federal Reserve Bank of Chicago. Sales performance in April jumped more than 12 points from the previous month, the largest increase in nearly a year on the 100-point index. Sales forecasts climbed nearly seven points to reach the highest level in nearly three years. “A surge in consumer confidence combined with employment gains helped improve consumer spending throughout the state,” said MRA President and CEO James P. Hallan. “Retailers expect the momentum to continue throughout the spring.” Across the U.S., retail sales excluding autos and gasoline climbed a s t ro n g e r t h a n e x p e c t e d 0 . 9 percent, according to the U.S. Commerce Department. The April Michigan Retail Index survey found 60 percent of Michigan retailers increased sales over the same month last year, while 25 percent recorded declines and 15 percent reported no change. The
Seasonally adjusted diffusion index, calculated by adding the percent of respondents indicating increased sales and half the percent indicating no change, and then seasonally adjusting the result using the U.S. Census Bureau’s X-11 Seasonal Adjustment procedure. Index values above 50 generally indicate an increase in activity, while values below 50 indicate a decrease.
200 (millions)
Feb
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Be sure to complete your online survey each month!
Colorful van graphics draw attention to message Buy Nearby has put its message on wheels. The Buy Nearby van is now decked out in large, colorful graphics. It serves as a mobile billboard for the MRA campaign encouraging shoppers to support their local communities and Michigan’s economy.
The graphics include the Buy Nearby Guy mascot, a shopping bag and the words “Thanks for Buying Nearby!” and “Keep Your Money in the Mitten.” The MRA, Buy Nearby and Pure Michigan logos also are prominent, as is the BuyNearbyMI.com website address. Buy Nearby Guy, along with students and faculty from Bath High School and representatives from Fuel Up to Play 60 and the United Dairy Industry of Michigan, proudly display the $7,480 they raised during the school’s “Fuel for Flint” fundraiser to provide Flint families with calcium-rich milk.
The van delivers the message to those it passes on the way to community visits by Buy Nearby Guy, as well as to folks at the events. The van often follows behind the mascot during a parade to repeat and give greater emphasis to the mascot’s message. The mascot plans to make more than 75 visits this year and rack up thousands more miles across the state. He had made 19 visits through the end of May, many of them before the graphics were added to the van. Continued on page 9
Buy Nearby Guy encourages visitors at the Great Lakes Kite Festival in Grand Haven to keep their money in Michigan by buying nearby.
The Buy Nearby van acts as a mobile billboard.
Enthusiastic shoppers at the Farmers Market inside Cambridge Junction Historic State Park in Brooklyn show off their love for Michigan and Michigan-made products at Walker Tavern Historic Site.