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July 25, 2014 Real gross domestic product (GDP) decreased at an annual rate of 2.9 percent in the first quarter of 2014 after increasing 2.6 percent in the fourth quarter of 2013.  Both private services and goods-producing industries contributed to the decrease, while the government sector increased slightly.  Durable-goods manufacturing; wholesale trade; and agriculture, forestry,... Read more »

July 24, 2014 Sales of newly built, single-family homes fell 8.1 percent to a seasonally adjusted annual rate of 406,000 units in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.  Sales numbers for May were revised downward to 442,000. “The numbers are a... Read more »

July 24, 2014 Growth in home improvement activity is expected to peak during the second half of 2014 and then begin to ease heading into next year, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program of Harvard University.  Revised estimates from the U.S. Census Bureau show the... Read more »

July 24, 2014 Walmart named Greg Foran president and CEO of its U.S. stores division to replace Bill Simon, who is leaving the company after an eight-year run. Foran is a relative newcomer at Walmart, who joined the company in October 2011 and by March of 2012 had been elevated to the role of president... Read more »

July 23, 2014 The National Retail Federation today lowered its retail sales forecast for 2014 because of slow growth recorded during the first half of the year, but said sales are expected to grow significantly faster over the next five months.  NRF forecasted in January that retail sales would grow 4.1 percent in 2014 over... Read more »

July 17, 2014 Families this summer will spend slightly more on back-to-school items than they did in 2013.  According to NRF’s 2014 Back-to-School Survey, the average family with children in grades K-12 will spend $669.28 on apparel, shoes, supplies and electronics, up 5% from $634.78 in 2013. NRF broke out spending by grade, and according... Read more »

July 17, 2014 Sam’s Club opened three new locations this month including locations near Chicago, Fort Worth and Wichita, Kansas, that pushed its club count to 630 units. The Wichita location at 3084 N. Maize Road opened on July 17 and provided Sam’s with an opportunity to remind current and prospective members of its value... Read more »

July 17, 2014 Nationwide housing production fell 9.3 percent to a seasonally adjusted annual rate of 893,000 units in June, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.  The drop was due primarily to a nearly 30 percent decline in the South.  All other... Read more »

July 17, 2014 Driven by increased demand for electronic items and parent’s need to restock their children’s school supplies from last year, families this summer will spend slightly more on back-to-school items than last year.  According to NRF’s 2014 Back-to-School Survey, the average family with children in grades K-12 will spend $669.28 on apparel, shoes,... Read more »