On Tuesday there was more evidence that U.S. consumers are starting to release their pent up propensity to spend. Redbook reported an extremely strong plus 4.4% year-on-year same-store sales rate in the March 27 week -- by far the strongest gain of the recovery thus far.
Redbook also upped its estimate for a plus 1.2% March-from-February rate, up 3 tenths from its estimate last week. Keeping in mind that retail sales makes up nearly 70% of the annualized U.S. GDP rate, first quarter growth rate continues to look like it is accelerating from the already
strong showing in Q4.
If the Redbook rate is annualized it points currently to a torrid 14.4% growth clip for the largest contributing segment of the U.S. GDP.
Posts
Eldon;
ReplyDeleteI live near a 1.5 million square foot shopping center in Denver. Granted, Denver has not felt the recession/depression as much as other parts of the country (although) residential realestate foreclosures have been on the top 10 list for several years but when I walk this large shopping center several times each week, it is very clear to me that consummerism is on the rise and rising quickly. One year ago there were no shoppers, then there were shoppers receiving free intertainment offered from the management of the mall, now there are many shoppers carrying out bags.
Others from across the country? What are your malls doing? Denver metro is hoppin...
ReplyDelete