3-Month Outlook 1994-2011

Percentage of Michigan retailers projecting increase (% Proj. Inc.), no change (% Proj. No Ch.) or decrease (% Proj. Dec.) in activity during the next three months.

* Index = Seasonally adjusted diffusion index. A diffusion index, which is the sum of the percent of respondents indicating increase and half the percent indicating no change, is calculated and then seasonally adjusted using the U.S. Census Bureau's X-11 Seasonal Adjustment procedure. Index values above 50 generally indicate an increase in activity, while values below 50 indicate a decrease.

3-Month Outlook 2011
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2011	% Rep. Inc.	% Rep. No Ch.	% Rep. Dec.	Index*	% Rep. Inc.	% Rep. No Ch.	% Rep. Dec.	Index*	% Rep. Inc.	% Rep. No Ch.	% Rep. Dec.	Index*	% Rep. Inc.	% Rep. No Ch.	% Rep. Dec.	Index*	% Rep. Inc.	% Rep. No Ch.	% Rep. Dec.	Index*
December	46	36	18	71.8	21	55	24	58.3	30	65	5	61.5	31	66	3	67.2	7	88	5	54.9
November	45	37	18	75.8	24	49	27	59.5	30	62	8	61.8	23	70	7	60.4	7	85	8	54.3
October	49	32	19	64.4	26	46	28	51.3	31	60	9	61.9	40	55	5	66.2	7	84	9	48.6
September	45	31	24	61.4	27	47	26	52.2	33	63	4	65.4	33	65	2	64.8	11	85	4	52.0
August	49	25	15	55.9	30	43	19	42.7	22	62	8	60.2	34	72	4	62.0	11	78	8	49.6
July	59	26	15	74.5	32	46	22	57.6	36	60	4	66.3	43	53	4	71.3	14	83	3	56.1
June	45	37	18	63.7	27	49	24	49.1	34	58	8	61.5	36	58	6	62.9	11	82	7	52.0
May	42	42	16	60.5	19	58	23	43.3	31	60	9	60.7	38	59	3	69.0	15	82	3	54.4
April	48	36	16	60.9	35	47	18	54.5	41	54	5	69.5	36	63	1	67.2	8	85	7	49.1
March	54	32	14	63.8	34	53	13	55.2	41	55	4	68.2	36	62	2	65.3	15	79	6	51.4
February	62	29	9	72.3	34	49	17	53.9	37	57	6	64.5	39	59	2	66.0	9	83	8	49.9
January	55	30	15	72.3	35	46	19	59.6	29	63	8	62.8	37	60	3	69.0	8	85	7	53.0

3 Month Outlook 2010
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2010	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	48	38	14	77.2	21	52	27	55.0	30	65	5	63.0	34	62	4	68.3	7	85	8	54.5
November	40	43	17	73.2	20	49	31	55.9	26	66	8	58.4	42	51	7	73.3	8	80	12	53.2
October	53	32	15	67.4	28	46	26	55.6	30	62	8	61.5	44	51	5	67.5	9	81	10	48.6
September	43	29	28	56.3	23	49	28	47.0	23	70	7	58.4	38	54	8	63.8	7	82	11	46.3
August	42	31	27	51.9	37	35	28	48.8	24	70	6	58.9	43	46	11	61.8	5	88	7	46.3
July	49	31	20	62.3	37	46	17	55.0	25	70	5	60.2	38	55	7	67.4	11	79	10	49.4
June	46	32	22	60.7	34	45	21	55.2	18	78	4	55.5	42	52	6	66.3	10	76	14	48.0
May	49	31	20	62.3	37	46	17	55.0	25	70	5	60.2	38	55	7	67.4	11	79	10	49.4
April	60	28	12	74.3	37	45	18	57.9	16	78	6	55.6	37	59	4	67.7	20	76	4	56.6
March	57	23	20	62.4	33	51	16	54.6	24	67	9	57.3	45	52	3	68.9	16	74	10	50.6
February	61	23	16	70.7	36	45	19	53.4	26	66	8	57.7	49	45	6	69.2	10	77	13	47.3
January	49	22	29	61.8	28	47	25	53.2	21	74	5	59.9	38	56	6	67.5	10	79	11	51.6

3 Month Outlook 2009
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2009	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	42	30	28	57.1	25	46	29	48.1	33	58	9	61.9	39	56	5	67.4	8	78	14	47.0
November	36	26	38	56.7	20	42	38	52.5	28	62	10	58.6	39	56	5	75.0	5	80	15	49.8
October	37	28	35	48.9	17	42	41	41.0	27	62	11	57.5	48	46	6	66.8	10	79	11	48.9
September	38	26	36	49.2	20	44	36	44.5	21	70	9	55.5	48	47	5	67.6	11	75	14	48.1
August	43	22	35	53.5	22	39	39	41.9	25	68	7	60.2	50	47	3	71.7	10	77	13	47.5
July	45	21	34	52.7	24	39	37	39.2	26	68	6	60.1	40	55	5	64.4	7	78	15	44.2
June	35	26	39	48.7	20	38	42	38.6	26	64	10	58.4	43	53	4	71.1	6	78	16	46.3
May	34	26	40	45.6	26	31	43	39.3	28	62	10	60.6	51	39	10	73.9	7	77	16	44.8
April	39	27	34	52.2	21	45	34	43.3	26	67	7	60.2	48	49	3	75.0	15	70	15	49.1
March	39	25	36	47.8	23	38	39	39.0	29	63	8	59.0	45	47	8	65.9	7	74	19	41.8
February	34	25	41	44.6	19	41	40	35.3	35	59	6	63.0	49	45	6	69.4	8	70	22	41.4
January	28	28	44	41.6	14	39	47	32.3	32	57	11	61.5	43	46	11	63.5	7	67	26	41.2

3 Month Outlook 2008
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2008	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	20	21	59	36.6	13	29	58	32.8	37	49	14	61.8	43	48	9	72.6	3	70	27	41.0
November	17	25	58	34.1	8	31	61	30.8	32	48	20	54.5	41	45	14	70.3	2	70	28	40.2
October	33	25	42	45.1	20	32	48	40.4	34	55	11	59.6	48	43	9	65.1	5	71	24	40.5
September	37	18	45	46.3	22	34	44	40.8	47	43	10	70.2	52	38	10	69.3	10	72	18	45.7
August	40	28	32	53.4	34	32	34	45.5	46	49	5	71.4	57	41	2	73.5	12	74	14	47.8
July	35	26	39	48.5	21	39	40	39.4	44	51	5	69.6	37	53	10	64.1	6	77	17	45.7
June	36	27	37	47.9	19	40	41	38.2	50	46	4	72.8	43	52	5	68.0	11	70	19	45.4
May	40	30	30	53.0	25	43	32	45.6	49	45	6	74.3	31	65	4	65.6	7	80	13	46.3
April	39	24	37	49.0	21	42	37	40.1	46	50	4	71.8	38	58	4	69.5	8	80	12	46.6
March	54	21	25	59.6	27	40	33	43.9	46	50	4	67.4	44	51	5	67.7	13	74	13	47.7
February	39	28	33	50.0	28	39	33	41.3	43	49	8	65.2	46	48	6	68.0	9	74	17	45.0
January	42	24	34	53.4	27	37	36	43.0	38	56	6	67.4	46	49	5	68.8	4	77	19	41.5

3 Month Outlook 2007
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2007	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	36	23	36	55.5	22	30	41	42.3	45	38	9	65.9	33	51	9	63.7	5	70	15	44.5
November	37	23	39	56.0	19	33	43	45.4	42	47	6	66.2	36	44	13	63.9	3	75	14	44.1
October	48	24	27	65.0	25	36	33	51.0	42	46	6	64.4	45	41	10	67.1	10	72	10	46.6
September	52	17	27	62.2	31	31	31	51.8	29	53	8	56.9	41	41	9	59.7	10	63	16	41.6
August	54	24	18	65.2	38	32	22	52.5	32	53	7	59.2	44	44	7	62.9	15	70	9	49.8
July	49	20	20	59.6	31	32	25	45.3	38	47	4	62.3	38	45	7	59.9	13	59	12	43.9
June	50	25	22	60.9	31	37	29	46.8	32	57	7	61.7	37	54	6	63.7	12	73	9	48.0
May	46	30	22	59.1	28	41	27	48.9	36	54	5	65.6	45	47	3	70.9	5	81	7	46.2
April	38	29	27	49.8	22	37	33	38.0	30	51	10	55.3	29	57	4	59.6	11	66	9	42.5
March	49	26	20	57.1	23	42	28	39.3	23	57	9	48.9	34	44	8	55.2	15	62	13	44.0
February	47	28	19	57.7	29	42	20	44.7	32	54	6	57.0	37	49	4	59.3	12	71	8	46.3
January	45	27	22	56.8	29	35	25	42.1	29	55	6	55.7	41	42	6	60.0	15	61	11	43.7

3 Month Outlook 2006
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2006	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	43	27	30	62.2	24	44	32	49.9	37	54	9	65.2	39	48	13	67.6	9	78	13	51.9
November	41	25	34	62.4	16	37	47	42.0	39	50	11	64.7	30	51	19	60.3	10	69	21	47.4
October	48	27	25	69.3	27	32	41	59.7	35	58	7	63.4	44	51	5	73.3	13	74	13	50.8
September	50	24	26	63.4	26	37	37	50.7	29	66	5	63.3	37	58	5	63.4	10	81	9	50.3
August	46	26	28	57.0	32	39	29	50.6	33	59	8	62.7	40	54	6	63	11	80	9	50.8
July	46	30	24	60.2	33	39	28	51.4	33	60	7	63.2	36	58	6	63.9	9	80	11	49.7
June	53	26	21	64	26	42	32	41.7	31	63	6	63.2	35	60	5	64.0	7	84	9	48.4
May	50	28	22	61.5	29	41	30	49.7	32	62	6	65.5	33	61	6	64.7	9	82	9	50.7
April	54	28	18	64.0	33	41	26	50.1	34	61	5	64.2	33	59	8	63.2	11	80	9	49.9
March	57	26	17	63.2	36	40	24	48.8	34	63	3	61.8	45	52	3	69.6	14	79	7	51.7
February	64	24	12	72.0	43	37	20	55.4	39	57	4	68.2	46	47	7	66.8	10	84	6	50.4
January	51	29	19	62.6	35	40	25	47.9	35	59	6	63.9	40	59	1	67.3	9	87	4	50.6

3 Month Outlook 2005
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2005	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	40	31	29	60.9	20	42	38	43.4	32	60	8	62.5	29	64	7	65.0	6	80	14	48.6
November	45	29	26	73.9	24	39	37	52.8	34	56	10	62.2	30	60	10	65.6	4	86	10	49.9
October	56	23	21	78.7	28	36	36	65.5	35	60	5	64.4	43	54	3	73.9	7	85	8	50.9
September	51	23	26	64.5	31	37	32	59.1	32	60	8	62.7	44	51	5	66.9	9	79	12	49.5
August	56	21	23	64.8	38	37	25	56.7	37	57	6	67.0	47	47	6	67.2	10	80	10	50.4
July	56	24	20	66.0	35	33	32	50.3	32	62	6	62.9	37	59	4	64.8	8	81	11	48.5
June	57	27	16	67.7	34	36	30	46.3	36	58	6	65.6	42	50	8	68.0	9	85	6	50.3
May	59	28	13	69.4	32	41	27	52.8	27	67	6	62.5	35	60	5	65.4	11	82	7	52.4
April	56	32	12	67.1	33	41	26	49.9	37	59	4	66.9	41	53	6	68.8	13	77	10	51.8
March	67	21	12	69.9	40	36	24	50.6	42	57	1	66.8	38	59	3	66.3	8	84	8	47.1
February	62	27	11	70.2	39	36	25	50.6	39	60	1	68.9	45	49	6	66.9	13	80	7	51.1
January	60	27	13	69.1	32	40	28	44.6	32	61	7	61.6	32	63	5	62.3	9	87	4	50.0

3 Month Outlook 2004
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2004	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	37	39	24	62.0	25	40	35	46.0	31	58	11	59.9	33	57	10	62.7	8	79	13	48.8
November	51	22	27	80.4	22	32	46	46.7	37	59	4	66.5	28	67	5	67.9	5	87	8	51.8
October	60	23	17	88.2	27	33	40	63.3	34	61	5	64.1	45	51	4	75.4	11	82	7	55.6
September	61	22	16	74.5	33	32	34	60.4	32	62	5	64.0	49	43	7	68.0	16	74	9	55.5
August	64	21	15	73.1	42	31	27	59.7	28	67	5	62.7	46	51	3	68.4	13	80	7	52.8
July	61	23	16	68.8	40	42	18	53.8	31	64	5	64.6	42	56	2	71.8	16	79	5	54.6
June	59	29	12	69	32	47	21	55.2	27	70	3	62.9	34	62	4	65.4	9	86	5	52.9
May	63	25	12	69.2	36	41	23	52.5	28	67	5	60.7	33	63	4	66.1	16	79	5	55.5
April	68	22	10	72.3	39	40	21	51.6	35	63	2	64.4	38	59	3	66.3	13	79	7	49.0
March	66	21	13	70.2	39	40	21	52.8	25	70	5	58.7	37	60	3	63.9	13	81	6	50.5
February	70	19	11	74.1	48	35	17	57.3	29	68	3	62.4	41	57	2	68.7	15	81	4	52.7
January	56	26	18	75.7	33	37	30	49.1	24	71	5	59.2	30	64	6	62.1	6	89	5	51.8

3 Month Outlook 2003
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2003	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	48	30	22	81.1	26	46	28	59.9	23	71	6	58.6	29	68	3	69.2	7	85	8	52.7
November	54	24	22	81.4	20	36	44	54.6	29	65	6	61.7	32	60	8	66.7	5	87	8	52.0
October	64	19	17	74.8	24	37	39	50.8	22	73	5	59.2	38	60	2	64.7	11	84	5	55.3
September	67	19	14	74.3	28	39	33	47.7	24	72	4	62.1	43	55	2	67.9	12	83	5	54.1
August	64	22	14	71.4	35	35	30	48.4	23	72	5	61.0	40	55	5	64.2	9	87	4	50.6
July	63	22	15	71.4	39	37	24	51.4	17	77	6	56.4	29	67	4	63.2	9	85	6	50.9
June	61	22	17	68.1	27	41	32	46.1	15	78	7	53.7	35	61	4	65.5	11	82	7	52.9
May	62	24	14	69.0	36	35	29	51.1	20	75	5	56.6	34	62	4	67.1	12	80	8	52.6
April	62	23	15	68.9	34	44	22	51.3	22	73	5	57.8	37	58	5	63.8	13	80	7	49.1
March	53	29	18	61.0	34	33	33	45.4	19	75	6	54.2	44	52	4	67.5	11	80	9	47.7
February	52	26	22	61.2	35	37	28	46.2	22	73	5	58.5	42	53	5	68.3	12	79	9	49.4
January	44	24	32	60.5	31	38	31	49.3	28	65	7	59.5	38	57	5	67.5	8	80	12	49.6

3 Month Outlook 2002
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2002	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	32	32	36	61.2	21	37	42	47.3	26	64	10	58.1	28	62	10	64.7	4	84	12	49.8
November	44	27	29	69.3	16	37	47	49.4	22	70	8	57.0	31	63	6	70.0	5	87	8	52.3
October	52	24	24	62.9	22	37	41	46.2	21	71	8	58.0	41	54	5	64.8	6	84	10	50.0
September	57	20	23	63.5	29	37	34	47.1	19	74	7	56.8	41	54	5	64.8	8	83	9	48.0
August	62	21	17	68.7	33	37	30	45.8	17	75	8	55.3	40	55	5	63.6	11	81	8	49.5
July	59	22	19	66.2	36	39	25	49.0	22	71	7	58.6	36	59	5	65.7	10	84	6	51.0
June	63	22	15	70.9	29	42	29	48.8	19	75	6	56.1	35	61	4	65.0	8	85	7	51.0
May	64	23	13	72.1	37	36	27	53.9	22	73	5	53.9	34	61	5	66.2	11	83	6	52.7
April	73	17	10	78.4	45	34	21	59.0	22	76	2	59.3	41	57	2	67.4	18	78	4	54.4
March	72	17	11	75.0	44	38	18	57.8	21	77	2	56.8	42	57	1	67.5	18	78	4	53.4
February	69	18	13	74.7	43	39	18	54.5	20	75	5	57.0	36	60	4	65.8	13	84	3	53.5
January	56	24	20	70.3	36	40	24	56.1	21	74	5	57.0	36	60	4	67.6	11	84	5	54.8

3 Month Outlook 2001
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2001	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	37	34	29	69.6	19	45	36	49.9	23	70	7	57.9	29	64	7	67.1	9	83	8	53.9
November	42	22	36	63.6	14	37	49	47.2	24	68	8	58.9	29	64	7	67.9	6	86	8	52.9
October	51	22	27	61.2	20	37	43	43.7	15	76	9	53.7	34	61	5	61.1	7	85	8	51.1
September	49	20	31	55.6	29	35	36	45.8	20	71	9	57.0	41	53	6	64.6	10	80	10	48.8
August	54	18	28	59.8	31	39	30	44.8	19	75	6	57.7	40	57	3	64.1	12	81	7	50.0
July	55	25	20	64.0	37	36	27	49.1	19	74	7	57.3	34	60	6	64.4	11	82	7	51.2
June	56	26	18	64.3	30	42	28	49.3	20	74	6	56.5	35	63	2	66.2	10	85	5	53.5
May	54	28	18	64.9	34	37	29	51.0	25	68	7	59.5	29	65	6	62.8	10	81	9	50.9
April	51	25	24	61.5	34	41	25	51.6	28	69	3	61.8	29	66	5	60.9	13	83	4	51.9
March	61	19	20	65.8	40	37	23	54.6	28	65	7	58.2	45	52	3	68.3	17	78	5	52.3
February	55	22	23	63.5	38	35	27	49.0	22	69	9	56.1	35	58	7	63.5	17	75	7	52.8
January	40	31	29	57.6	30	36	34	47.6	26	65	9	57.9	33	61	6	65.1	8	83	9	51.7

3 Month Outlook 2000
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
2000	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	30	26	44	54.7	15	41	44	43.1	25	66	9	57.3	29	60	11	65.3	10	77	13	52.4
November	39	24	37	61.2	19	34	47	51.5	24	67	9	58.1	33	57	10	68.9	9	81	10	53.6
October	59	21	20	68.5	28	35	37	51.2	19	78	3	59.2	46	52	2	68.5	12	85	3	56.3
September	62	20	18	68.3	39	31	30	53.8	19	76	5	58.0	42	54	4	65.7	17	77	6	53.9
August	66	18	16	71.0	48	30	22	56.7	20	72	8	57.1	48	47	5	67.7	19	75	6	54.3
July	66	19	15	71.5	44	34	22	54.6	24	71	5	61.1	39	57	4	68.0	15	80	5	54.3
June	66	19	15	72.6	39	37	24	56.5	22	73	5	58.0	39	59	2	68.6	13	82	5	54.6
May	70	19	11	76.7	41	34	25	56.6	22	71	7	57.6	37	59	4	68.1	16	80	4	56.2
April	69	23	8	77.6	43	37	20	59.2	22	73	5	58.7	42	56	2	68.0	25	73	2	58.6
March	75	17	8	77.4	46	36	18	59.4	28	68	4	59.7	39	58	3	65.3	22	75	3	55.9
February	73	21	6	80.6	50	37	13	60.3	27	68	5	60.7	40	58	2	68.4	21	78	1	58.0
January	60	25	15	74.9	41	41	18	61.1	18	75	7	54.4	33	61	4	65.3	14	83	3	58.2

3 Month Outlook 1999
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
1999	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	48	33	19	83.4	31	42	27	62.7	27	65	8	58.6	30	61	9	67.2	12	83	5	56.9
November	57	29	14	85.0	23	39	38	60.6	20	72	8	56.7	26	62	12	64.4	12	83	5	57.3
October	72	17	11	78.6	36	33	31	58.0	20	72	8	57.5	44	51	5	65.9	15	80	5	56.9
September	75	19	6	79.7	45	34	21	59.7	18	77	5	57.8	45	50	5	66.1	18	81	1	56.8
August	74	18	8	78.3	50	31	19	58.5	22	71	7	58.5	47	50	3	68.0	23	75	2	57.6
July	71	19	10	76.7	49	33	18	59.0	18	76	6	57.1	37	57	6	66.0	19	77	4	56.3
June	70	23	7	79.1	47	35	18	63.0	22	73	5	57.9	37	60	3	67.4	15	83	2	57.1
May	69	21	10	76.9	40	37	23	57.2	19	75	6	56.6	36	59	5	66.3	15	81	4	55.8
April	73	20	7	80.3	41	36	23	56.8	17	77	6	55.1	44	51	5	68.0	21	77	2	56.9
March	77	17	6	79.5	49	30	21	59.3	22	71	7	55.4	45	52	3	68.3	24	75	1	57.7
February	69	20	11	75.8	55	29	16	61.2	19	74	7	55.3	42	54	4	68.1	19	79	2	57.1
January	63	29	8	79.8	46	36	18	63.6	20	74	6	55.5	40	55	5	68.4	11	86	3	56.5

3 Month Outlook 1998
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
1998	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	45	30	25	77.8	31	34	35	58.3	20	71	9	54.7	30	63	7	68.0	14	80	6	58.1
November	53	24	23	77.1	20	37	43	54.8	24	67	9	58.6	30	59	11	67.2	11	84	5	58.1
October	76	15	9	80.8	39	34	27	61.7	16	77	7	56.0	45	52	3	67.6	16	78	6	56.1
September	74	18	8	77.9	46	29	25	58.0	19	77	4	59.0	50	47	3	68.9	22	75	3	57.6
August	79	14	7	80.8	54	29	17	60.9	18	75	7	56.5	45	52	3	67.1	23	75	2	57.2
July	76	18	6	81.2	52	33	15	62.1	17	77	6	56.8	41	55	4	68.8	21	78	1	58.7
June	72	20	8	80.3	46	34	20	61.5	21	74	5	57.2	36	60	4	66.6	17	81	2	58.1
May	68	24	8	78.1	44	40	16	63.0	17	77	6	55.5	40	58	2	69.8	20	77	3	58.9
April	70	20	10	77.5	45	39	16	62.9	22	72	6	57.7	43	52	5	67.7	24	72	4	57.8
March	75	17	8	77.5	48	36	16	61.2	17	75	8	52.8	48	49	3	69.7	19	78	3	54.6
February	72	20	8	78.6	51	35	14	60.3	21	74	5	57.2	40	57	3	67.5	16	82	2	55.9
January	63	28	9	79.3	44	39	17	63.2	27	68	5	58.9	43	54	3	70.8	16	81	3	59.1

3 Month Outlook 1997
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
1997	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	46	29	25	78.8	30	40	30	61.1	27	66	7	58.8	32	60	8	68.7	12	81	7	56.5
November	54	26	20	78.9	21	38	41	56.6	22	68	10	57.2	32	58	10	69.3	8	85	7	55.9
October	73	15	12	76.9	40	35	25	62.9	23	73	4	61.3	51	43	6	69.1	17	79	4	57.2
September	74	16	10	76.6	50	30	20	61.5	19	73	8	57.1	52	46	2	69.8	22	77	1	58.2
August	73	17	10	76.4	53	30	17	60.3	22	72	6	59.2	50	48	2	70.1	22	74	4	55.5
July	69	21	10	76.0	43	39	18	56.9	20	74	6	58.8	42	53	5	68.6	17	79	4	55.1
June	64	24	12	75.0	40	39	21	58.0	24	71	5	58.5	40	58	2	69.8	15	80	5	55.4
May	68	21	11	77.2	44	36	20	61.5	27	66	7	60.0	44	53	3	71.3	15	81	4	55.9
April	70	22	8	78.7	41	39	20	59.7	26	69	5	60.2	47	49	4	70.3	19	76	5	55.2
March	69	22	9	74.2	46	36	18	59.3	28	66	6	59.3	43	55	2	67.7	22	75	3	56.2
February	72	22	6	79.2	51	33	16	59.4	26	68	6	58.9	47	50	3	70.9	16	80	4	55.1
January	67	24	9	81.0	38	43	19	59.4	23	72	5	56.4	40	57	3	69.2	15	79	6	56.6

3 Month Outlook 1996
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
1996	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	44	33	23	79.6	26	46	28	60.3	29	64	7	58.9	29	63	8	66.7	12	80	8	56.0
November	57	26	17	82.1	22	41	37	60.5	23	69	8	58.8	31	61	8	69.9	10	81	9	56.5
October	73	18	9	77.9	39	29	32	60.4	20	71	9	58.1	48	48	4	68.3	18	79	3	57.5
September	75	18	7	78.5	50	28	22	60.0	20	72	8	57.9	49	48	3	67.3	22	74	4	56.7
August	69	19	12	73.7	46	36	18	56.3	20	73	7	57.3	45	52	3	67.0	29	66	5	57.9
July	70	20	10	75.9	47	37	16	58.7	24	71	5	61.6	44	51	5	68.9	24	70	6	57.5
June	63	27	10	76.1	43	35	22	59.1	22	74	4	58.0	41	55	4	69.4	15	79	6	54.6
May	69	18	13	76.9	36	39	25	55.7	22	74	4	58.4	35	60	5	66.5	18	77	5	56.8
April	65	27	8	75.9	37	39	24	56.2	22	73	5	57.7	40	55	5	66.9	20	77	3	57.0
March	70	22	8	75.6	44	37	19	57.6	22	73	5	57.4	44	53	3	67.7	21	76	3	56.8
February	71	19	10	75.3	48	35	17	56.5	23	71	6	57.5	41	56	3	68.1	20	79	1	58.4
January	54	29	17	70.7	38	35	27	55.5	32	64	4	61.2	42	52	6	69.2	12	84	4	56.0

3 Month Outlook 1995
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
1995	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	37	35	28	72.1	27	36	37	55.9	33	57	10	59.0	33	60	7	70.3	9	82	9	53.5
November	49	26	25	73.3	26	33	41	59.7	27	61	12	58.5	33	56	11	69.9	9	82	9	56.1
October	74	16	10	76.8	35	32	33	54.6	24	69	7	59.8	53	43	4	70.8	23	74	3	59.8
September	78	13	9	78.6	50	26	24	58.8	29	66	5	64.4	57	41	2	71.1	21	75	4	56.6
August	76	15	9	78.1	57	25	18	60.9	25	68	7	60.7	58	40	2	74.1	26	68	6	55.9
July	74	16	10	77.8	50	30	20	58.9	24	69	7	60.0	47	48	5	70.6	21	74	5	55.9
June	65	23	12	76.9	43	37	20	59.5	29	65	6	61.2	37	56	7	67.5	15	80	5	55.8
May	66	20	14	75.7	40	34	26	57.5	29	67	4	61.8	42	54	4	69.8	13	82	5	54.7
April	67	21	12	75.6	38	38	23	58.5	25	72	3	60.8	47	51	2	71.6	16	80	4	54.9
March	77	14	9	77.9	46	35	19	59.9	311	65	4	62.1	50	49	1	71.3	18	79	3	54.9
February	75	17	8	78.8	52	35	13	61.6	35	62	3	64.2	47	51	2	71.3	19	78	3	57.4
January	65	20	15	78.4	42	36	22	60.6	36	58	6	62.4	42	52	6	69.8	14	81	5	57.1

3 Month Outlook 1994
	Sales				Inventory				Prices				Marketing/Promotions				Hiring Plans
1994	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*	% Proj. Inc.	% Proj. No Ch.	% Proj. Dec.	Index*
December	53	27	20	87.5	34	40	26	66.4	34	60	6	61.2	36	57	7	71.8	14	79	7	57.3
November	57	21	22	79.7	24	36	40	60.8	31	59	10	61.5	36	52	12	70.3	9	80	11	56.9
October	77	14	9	79.6	40	31	29	61.2	24	67	9	60.2	56	38	6	72.0	18	76	6	55.9
September	78	11	11	77.1	53	25	22	60.9	22	71	7	59.9	64	33	3	73.5	23	73	4	56.4
August	78	12	10	78.6	58	24	18	61.9	23	70	7	59.5	59	38	3	73.6	26	69	5	56.0
July	75	14	11	78.8	55	28	16	63.1	22	71	7	59.6	52	44	4	73.9	20	73	7	55.6

3-Month Outlook 1994-2011

Michigan Retail Index