Restaurant sales surged 36% year-over-year in March as consumers spent their stimulus checks, enabling the industry to almost completely recover sales lost during the pandemic despite capacity limits and closures. Food services and drinking places generated $61.2 billion in sales in March, up 13.4% from February.
U.S consumer prices rose by the most in more than 8-1/2 years in March as increased vaccinations and massive fiscal stimulus unleashed pent-up demand, kicking off what most economists expect will be a brief period of higher inflation.
In 2020, the onset of the COVID-19 pandemic in the United States sparked much talk of an “urban exodus” in which white-collar workers would flee the urban cores of the largest U.S. cities in droves for the space and relative safety of outlying suburbs and smaller cities.
Lumberyards and homebuilders alike have delayed buying lumber from sawmills in hopes the price of the sky-high commodity would finally come back down to earth. It hasn’t budged, and now the buying rush is on ahead of spring and summer projects.
U.S. consumers are more optimistic about the economy rebounding, according to ICSC’s latest Coronavirus Consumer Survey of 1,004 respondents, conducted April 2 to 4. Forty-three percent say their opinion about the current state of the economy is more positive than it was a month ago.
REITs rose last week with a 2.6% total return on the FTSE Nareit All Equity REITs Index. These latest gains, the fourth straight weekly increase, lifted year-to-date returns to 13.5%. There were increases across the board last week, with every property sector reporting gains. Timber REITs posted a 5.0% gain.
Payments authorized under the federal coronavirus relief act in March of last year, a second aid bill in December and stimulus legislation in February sent billions of dollars to households to prop up incomes that had been devastated by job losses. How were these funds spent?