Robust fourth quarter forecast set for retail
MARIETTA — Recent achievement does not equal future performance. But, if August is an…
Georgia (Nov 24, 2014) — MARIETTA — Recent achievement does not equal future performance.
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But, if August is an indication of things to come, then Donald Sabbarese has strong hopes Cobb is in store for a potent fourth quarter in the retail sector.
From where Sabbarese sits, he gets a first-hand look of the firestorm surrounding the fourth quarter every year. The professor of economics, finance and quantitative analysis at Kennesaw State University said that while there are varying numbers out there on what may or may not happen, he expects Cobb’s performance, driven by its diverse economy, to be consistent with the national numbers.
“If August is a harbinger of what to expect, it should improve,” said Sabbarese, who is also director of KSU’s Econometric Center. “Up until July and August, retail sales were weak. July began to show some positive signs, while August retail sales are up sixth-tenths of a percent and 4.8 percent year-to-year. Lower gas and energy prices have contributed to this up tick after earlier weak numbers prior to July.”
Overall, Sabbarese said the snapshot of auto, apparel and restaurant sales — a key indicator of consumers’ discretionary expenditures — are a good place to start. August auto sales, which continue to remain strong, are up 1.5 percent (9.5 percent year-to-year), while apparel sales are up three-tenths of a percent (3.2 percent year-to-year).
A leader in innovative teaching and learning, Kennesaw State University offers more than 150 undergraduate, graduate and doctoral degrees to its approximately 41,000 students. With 11 colleges on two metro Atlanta campuses, Kennesaw State is a member of the University System of Georgia and the third-largest university in the state. The university’s vibrant campus culture, diverse population, strong global ties and entrepreneurial spirit draw students from throughout the region and from 92 countries across the globe. Kennesaw State is a Carnegie-designated doctoral research institution (R2), placing it among an elite group of only 6 percent of U.S. colleges and universities with an R1 or R2 status, and one of the 50 largest public institutions in the country. For more information, visit kennesaw.edu.