California Apparel News

May retail sales beat forecasts by International Council of Shopping Centers, increasing 3.2 percent, according to the influential trade group’s index. It had forecast that sales would increase 2 percent to 3 percent, said Michael Niemira, ICSC’s chief economist. “However, the underlying improvement in the U.S. economy along with rising stock and home prices are helping to lift the sales pace,” Niemira said.

Boston-area market-research firm Retail Metrics reported that its index of retailers posted a 3.5 percent gain in their same store sales. “[It] marked the group’s best performance since January,” Retail Metrics President Ken Perkins said.

Consumer confidence has been increasing, according to the Consumer Confidence Index, charted by The Conference Board by Nielsen. Consumer confidence increased in April and increased again, Lyn Franco, director of economic indicators at The Conference Board, said in a statement released May 28. “[Consumer confidence] is at a five-year high,” she said. “Consumers’ assessment of current business and labor-market conditions was more positive, and they were considerably more upbeat about future economic and job prospects.”