LANSING – March sales were positive, and retailers are expecting that trend to continue the next three months, the Michigan Retailers Association said in releasing its latest Michigan Retail Index on Wednesday.
The March performance index, created in collaboration with the Federal Reserve Bank of Chicago, was 57.8, a result of 49 percent of retailers seeing increased sales versus 26 percent who saw declines.
That score was down from 59.3 recorded in February, but up from 42.9 in March 2011.
The outlook index, however, showed improvement at 69, up from 67.9 in February and 63.8 in March 2011. Some 59 percent of retailers expect business to improve through June.
“Concerns over the price of gasoline haven’t evaporated, but they have quieted somewhat as prices have retreated from the $4 level,” said MRA President and CEO James Hallan.
“Consumer spending also remains good, further allaying retailers’ fears.”
Nationally, sales increased 0.8 percent in March. But sales of items other than vehicles, fuel and food were up 8.2 percent for the first quarter, the largest gain in two years, the U.S. Department of Commerce reported.
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