2013: The Year Retail Rebounds?
Gary Glick wrote an article published in Retailing Today on Feb. 2, 2013 about the economy and how, with housing and job growth continuing to grow, we may begin to see retail development pick up and many retailers return to the marketplace.
In his article, Glick discusses the rise in consumer confidence late last year and the uptick in the residential housing market. He cites the ChainLinks Retail Advisors U.S. National Report which concluded that while consumer confidence is still well below the historical average, it was at the highest level this past November that it had been since February 2008. He also notes that Wall Street and others believe that the housing crisis may be over for good.
Glick also wrote that interest rates are expected to stay low for the next two-to-five years and that life insurance companies should remain very busy.
“The biggest obstacle in the way of economic recovery may be our representatives in Washington,” he cautioned. “Although they were able to avert the first potential “fiscal cliff” crisis by reaching a “last minute” agreement on preventing tax increases most Americans in 2013, it is still incumbent upon them to reach an agreement which would begin to bring down the ever ballooning national debt.”