The value of retail construction set in place in May 2003 was estimated at $55.3 billion (SAAR), down 6% from April 2002. In the face of pinched retail profits, construction volume has been flat or down in many retail sectors — even in some that were hot last year, such as freestanding drug stores. However, indicators that drive retail construction, such as residential construction, retail sales, and consumer confidence, are healthy and may lead to increased retail building in 2004. A success story this year has been the reemergence of that retailing relic — the enclosed shopping mall.