2024 Q4 Economic Report
GDP GROWTH: The U.S. economy slowed in the fourth quarter but still turned in a healthy 2.8% growth rate for the year, compared to 2.9% in 2023. Growth in 2024’s GDP reflected increases in consumer spending, investment, government spending and exports. The fourth quarter expanded at an annualized rate of 2.3%, as measured by gross domestic product. That was off from the 3.1% GDP increase in the third quarter and slightly below the expectations of…
2024 Q4 North America Market Report
INDUSTRIAL OVERVIEW: DOCKWORKERS STRIKE THREAT, TARIFF QUESTIONS SLOW DEMAND Tenant demand for industrial space in the United States and Canada fell sharply in 2024 and rent growth was the weakest in more than a decade. Several factors were behind the slowdown. Business owners paused expansions in 2023 largely due to lingering supply-chain issues and higher interest rates that reduced home sales and purchases of home improvement materials and appliances. In the U.S., a potential longshoremen…