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Retail turnover slows, but remains healthy

Despite remaining highly volatile month-to-month, momentum in retail turnover appears to be slowing. Nevertheless, both spending growth and consumer sentiment remain positive.  We expect much of the volatility in spending to recede over 2010 and solid spending to continue, supported by strong population growth and recovering household balance sheets. This greater stability will give retailers more confidence to resume expansion plans and will boost the recovery in tenant demand that has been subdued over the past twelve months.

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