GDP GROWTH: The U.S. gross domestic product contracted at a 1.4% annual rate in the first quarter. It was the weakest quarterly showing in the nation’s economy since 2020 and was blamed chiefly on supply disruptions, reduced exports and fading fiscal stimulus. But solid consumer spending and business investment suggest that growth will resume. Nevertheless, the decline was unexpected and in stark contrast to the strong 6.9% GDP reading in the fourth quarter of 2021….
2022 Q1 North America Market Report
INDUSTRIAL OVERVIEW: RENTS PUSHED ON STRONG DEMAND Strong demand for industrial space throughout North America continued in the first quarter as vacancies fell to record lows and rent growth hit double digits. First quarter net absorption in the U.S. totaled 92.8 million SF, which was up 25% year over year but down 35% from the 143-million-SF average of the last three quarters of 2021. Annualized rents rose 10.1% in the U.S. and the average vacancy…