For Immediate Release

April 25, 2007

LANSING — The number of Michigan retailers forecasting better late-spring sales held steady following a small uptick in sales during March, according to the Michigan Retail Index, a joint project of Michigan Retailers Association (MRA) and the Federal Reserve Bank of Chicago.

“An early Easter and a touch of warm weather helped push up sales in March,” said Larry Meyer, MRA chairman and CEO.

“While the increase was not dramatic, any positive movement is welcome in this difficult economy. Looking ahead, retailers are holding firm on their forecasts for slightly improved sales during the next three months.”

National retail sales, excluding autos, rose 0.8 percent in March, the U.S. Commerce Department reported.

The Michigan Retail Index showed that 43 percent of retailers increased sales in March over the same month last year, while 38 percent recorded declines and 15 percent saw no change. The results create a seasonally adjusted performance index of 49.0, up from 46.9 in February.

In addition, 49 percent believe their sales will increase for April–June, while 20 percent forecast declines and 26 percent project no change. The results create a seasonally adjusted outlook index of 57.1, little changed from 57.7 in February.

The Michigan Retailers Association is the unified voice of retailing in Michigan and the nation’s largest state trade association of general merchandise retailers.

Note: William Strauss, Senior Economist and Economic Advisor with the Federal Reserve Bank of Chicago, can be reached at 312.322.8151.