You also need to account for the fact that the US population is growing at about 1% a year. Whilst they are not in a 'technical recession', any growth under 1% (annualised) is, in reality, going backwards.
Having said this though, given the woes in the US since late last year, it appears to be an OK result. It also does not include the special tax rebates that US citizens are in the process of receiving, which should give a bit of a lift to the coming quarter as they work their way through the economy.
As fas as Centro is concerned, remember that our centres are typically anchored by tenants who are less affected by the slowdown, such as grocery stores.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
