We’ve grabbed some numbers from a variety of articles in the NY Times and CNBC on a robust and healthy holiday season. We are optimistic that as a result, we will see new store growth from regional and national brick and mortar tenants.
- Retail sales during November and December increased by 5.5% over the previous year
- Last month’s increase in retail sales confirms economists’ expectations of an acceleration in consumer spending in the fourth quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 2.2 percent annualized rate in the third quarter.
- Receipts at restaurants and bars rose 0.7 percent in December, the biggest gain since January 2017