August Bookstore Sales: Glass Half Full?
The gain occurred during a summer of steadily rising energy costs and mixed results in retailing. (Hurricane Katrina had no effect on the figures since it occurred at the very end of the month.) Perhaps August results were aided by a Harry statistical lag?
For the year to date, bookstore sales are $10.332 billion, down 2.2% from last year's January-August sales.
By comparison, general retail sales in August rose 10.2% to $329.4 billion, and for the year to date, sales have risen 7.8% to $2.458 trillion.