Weekly Market Snapshot – May 18th, 2020
Created by: Sam Tenney
- Retail sales suffered a -16.4% plunge in April, the largest contraction ever recorded. Clothing and accessories stores were the hardest hit with an -89.3% drop in sales. ¹
- Less than half of strip mall properties in the US have paid rent for May, as larger companies such as Bed Bath & Beyond, AMC, and Shake Shack seek deferral relief for their property payments. ²
- Federal Reserve branch of Minneapolis head Neel Kashkari has said “The April jobs report will likely understate the economic pain … The real unemployment rate is probably around 23-24%”³
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