Morning Memo: Tuesday, November 19, 2013 UPDATED

This post is an update to our earlier post: Morning Memo: Tuesday, November 19, 2013

• US...Employment Cost Index inline w/expectations @ 0.4% q/q and 1.9% y/y.  Total employment costs have moderated at around these levels with most of the increases coming from benefits vs wages.
• ICSC Chain Store Sales ticked up slightly 0.1% for the week, 2.8% y/y following last week's spike of 1.2% w/w.   The four week moving average is trending up after Sept/Oct falling.  Colder weather led to earlier buying of warmer clothes. Forecasts for Q4 y/y growth in same store sales has moderated, @ roughly 2%.  Early discounts already underway. 

Same store sales slows into holidays, but optimism for 2014 http://t.co/NWpDiveC4N
— FactSet (@FactSet) November 15, 2013

• American Trucking Association For-Hire Truck Tonnage Index falls in October 2.8% vs Sept, but still up 8% vs last year!

• In case you missed this yesterday, noteworthy read:  

@DougKass Sobriety does still exist! Thx DK. Very thoughtful & thought-inspiring piece!
— Ed L (@SoosGlobal) November 19, 2013

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