Michigan Retailers See Hope, Questions On Horizon

A survey of retailers from across the state shows sales increased in March, and demonstrated general optimism about retail sales for spring. When the Michigan Retailers Association polled businesses across Michigan, 60 percent of respondents reported sales increases over February, 30 percent recorded declines and ten percent reported no change. The results create a seasonally adjusted performance index of 64.3, a large increase from the 42.2 performance index reported in February. It also betters the results from the same time a year ago, when the Retail Index was 57.4. Michigan also fared better than the national average, which grew by 0.3 percent seasonally adjusted over February. James P. Hallan, President and CEO of the Michigan Retailers Association, said the increase in consumer confidence is particularly encouraging given Michigan’s unseasonable March weather.
 
The future looks bright to many retailers as well, with 76 percent expecting strong sales through May, while ten percent predict a decrease and 17 percent expect no change. In this region, the outlook is not as rosy: Only 40 percent of those who took part in the survey from the North region anticipate an increase, while half anticipate a decrease. However, those results are based only on ten responses from the entirety of the North region, which encompasses all of the state north of Bay City.
 
A total of 67 retailers took part in the survey statewide.