2023 Q4 Economic Report
GDP GROWTH: The nation’s gross domestic product expanded at a 3.3% annual rate in the fourth quarter. The quarterly output exceeded the Wall Street consensus estimate of a 2% gain. It also capped a year in which the U.S. skirted a recession that many forecasters thought was inevitable. GDP grew at a 4.9% pace in the third quarter. The U.S. economy for all of 2023 accelerated at a 2.5% annualized pace, well ahead of forecasts…
2023 Q4 North America Market Report
INDUSTRIAL OVERVIEW: RENT GROWTH REMAINS STRONG DESPITE SPUTTERING DEMAND Demand for industrial space in North America sputtered in 2023, hobbled by a host of post-pandemic economic and supply-chain issues. Among them were declining imports, retailers caught with surplus inventories and slumping receipts for furniture, appliances and building materials from a 12-year low in home sales. Additionally, there were wide expectations for an economic recession. Net absorption totaled 164.8 million SF in the United States in…