NEWS

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Palomar Press Briefing | June 16, 2021

 



 INDUSTRY NEWS

June 16, 2021

 

AMAZON WILL OVERTAKE WALMART AS THE LARGEST U.S. RETAILER IN 2022, JPMORGAN PREDICTS

Amazon is on track to overtake Walmart as the largest U.S. retailer in 2022, according to JPMorgan research released Friday. Amazon’s U.S. retail business is the “fastest growing at scale,” according to the company’s analysts.

TRAVEL REBOUND: 2 MILLION PEOPLE GO THROUGH US AIRPORTS

The airline industry’s recovery from the pandemic passed a milestone as more than 2 million people streamed through U.S. airport security checkpoints on Friday for the first time since early March 2020. TSA reported 2.03 million travelers were screened at airport checkpoints on Friday.

RETAIL RENT COLLECTIONS ECLIPSE 90% MARK FOR FIRST TIME SINCE PANDEMIC

Total retail rent collections approached 91% last month, the first time since March 2020 that collections eclipsed that 90% mark. May collections clocked in at 90.85%, up more than a percentage point over April figures, according to new research from Datex Property Solutions.

DEUTSCHE BANK REPORT ISSUES ‘DIRE’ WARNING FOR US ECONOMY

Deutsche Bank has issued a stark warning on inflation, after consumer prices in the U.S. rose at a faster rate in May than any time since the Great Recession. In its report Thursday, the government said that overall consumer prices rose 0.6 percent in May.

YES, REAL ESTATE PRICES ARE SOARING, AND NO, IT’S NOT A BUBBLE

The parallels are hard to ignore: the record prices, the bidding wars, the subdivisions that fill up as soon as they’re built, the resourceful buyer who clinched a deal by dropping off cupcakes that matched the home’s interior paint colors. Today’s real estate market feels a lot like the bubble market circa 2006.

U.S. ONLINE SALES FORECAST REVISED UPWARD

E-commerce is on track to surpass 20% of total U.S. retail sales by 2024. That’s according to eMarketer, which increased its forecast for U.S. retail e-commerce sales in 2021, following a strong first quarter fueled by the government stimulus. Online sales are now expected to grow 17.9% this year to reach $933.30 billion.

U.S. JOB OPENINGS, QUITS HIT RECORD HIGHS IN APRIL

U.S. job openings surged by nearly one million to a new record high in April, while more people voluntarily left their employment, strengthening the view that a recent moderation in job growth was due to supply constraints. The Labor Department’s monthly Job Openings and Labor Turnover Survey on Tuesday also showed layoffs hit a record low in April.

 

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