Marcus & Millichap Finds Escalating Consumer Confidence Bodes Well for Retail but Sales Still Divided Between Luxury and Discount

WALNUT CREEK, CA -- Resilient spending reflects improving economic conditions that have driven retail sales beyond pre-recession levels, according to Marcus & Millichap’s second-quarter industry report.

Consumers are benefiting from rising home values, surging stock prices, declining foreclosures, and reduced household debt in a period of rising employment.

The May survey of the Consumer Confidence Index represents two consecutive months of rising values, surging to 76.2, the highest level in five years.

Significant challenges remain for consumers, however, as they continue to adjust to high structural unemployment, subdued personal income growth and higher payroll taxes.

A bifurcated spending pattern favoring the discount and luxury ends of the consumer spectrum persists, underscoring that recovery remains uneven and segments of the population continue to struggle.

For a complete copy of the company’s news release, please contact:

Ben Johnson

 Marketing Director

 Marcus & Millichap

2999 Oak Road

Suite 210

Walnut Creek, CA 94597

 (925) 953-1700 ext. 1736

(925) 953-1710 fax

(925) 270-9079 cell

ben.johnson@marcusmillichap.com

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