Retail sales numbers are always important to commercial real estate. Somebody has to enter the stores and spend money so the rent won't be late. The advance retail and food service monthly sales for January were heavily off expectations.
The total was $700.3 billion, down 0.8% from December 2023, although up 0.6% from the previous January. Expectations were for a 0.2% month-over-month fall.
Retail trade sales were down 1.1% from December and 0.2% off from the same time last year. However, non-store retailer (e-commerce) sales were up 6.4% year over year. Food and drinking places were up 6.3% from the year before.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
