The US dollar surged yesterday after the positive US data, but turned down today. Jump in to get a market wrap!
American retail mall vacancies stand still in the first quarter
American retail mall vacancies were intact, sticking to 9.9% during the first quarter of 2017, compared with the fourth quarter of the previous year, as new construction dipped to its lowest values in six years, as real estate research company Reis Inc revealed in its report.
Expectations for the retail real estate industry have dropped because of the rapid ascend in e-commerce as well as store closures. However the entire impact of the closures hasn’t been felt yet, as Denham stressed.
Construction activity went down by more than two-thirds during the quarter, with a paltry 796,000 square feet of fresh construction completed.
Asking rent soared 0.3%, while effective rent added 0.4%, as Reis told.
Net absorption, assessed in terms of available retail space sold in the market for a certain period, more than halved, hitting 1.25 million square feet.
Besides this, the national vacancy rate for neighborhood as well as community shopping centers stood still at 9.9%.
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!