REITs edged lower last week, with a total return of -1.0% on the FTSE Nareit All Equity REITs Index. Broader markets, in contrast, moved slightly higher with a return of 0.5% on both the S&P 500 and the Russell 1000. The REIT property sectors with the largest declines included those that have had the strongest throughout the pandemic and recovery.
U.S. retail sales unexpectedly increased in August, likely boosted by back-to-school shopping and child tax credit payments from the government, which could temper expectations for a sharp slowdown in economic growth in the third quarter.
In brick and mortar, the script has flipped between 2020 and 2021. This time last year, after bankruptcies surged amid COVID-19 disruption, store closures outpaced openings by more than 150%, according to Coresight.
The U.S. economy is proving resilient in the face of the Delta variant. Americans briskly increased spending at retailers last month, while employers have largely resisted the urge to lay off workers, the government reported Thursday, both signs of strong demand in the economy.
American households saw another significant jump in net worth as well as hefty increases in debt and credit, the Federal Reserve reported Thursday. Thanks in good part to a big surge in stock market earnings, total household net worth rose to $141.7 trillion.
When it comes to the retailers that U.S. shoppers are banking on this upcoming holiday season, two things are top of mind: prices and promises. That’s according to a survey by Smarty, which noted that consumers are always searching for great value.
