Half of Michigan retailers experience sales growth
While the economy may be giving retailers and their POS software headaches nationwide, store owners in Michigan are remaining positive.
According to the Michigan Retail Index, a project supported by the Michigan Retailers Association and the Federal Reserve Bank of Chicago, retail sales and forecasts in the state showed improvement over the previous year despite stalling in June.
The index found that 50 percent of retailers saw increased sales year-over-year, 33 percent reported declines and 17 percent reported no change. The index registered at 58.6 compared to 52.1 last June. However, the number was a decline from 61.9 in May.
"The performance of Michigan's retail industry slipped from May to June, catching up to a national trend that began two months earlier," said MRA President and CEO James P. Hallan. "However, we are still seeing year-to-year growth, a broader picture of where we are."
However, the small business sector has not espoused similar optimism. The National Federation of Independent Business reported small business sentiment fell three points in June, following a decline in May as well.
