2024 Q2 Economic Report
GDP GROWTH: The U.S. economy picked up steam in the second quarter, as the nation’s gross domestic product increased at a 2.8% annual rate compared to 1.4% in the first quarter, the Commerce Department said. The size of the GDP reading was more than expected and primarily reflected heightened consumer spending, business investment and inventory growth. Consumer spending, which accounts for more than two-thirds of the economy, increased at about 2% after slowing to a…
2024 Q2 North America Market Report
INDUSTRIAL OVERVIEW: ACTIVITY, GROWTH CHECKED BY HIGH INTEREST RATES Industrial market performance across North America continued to downshift in the first half. Although net absorption remains positive, demand for industrial space has fallen to the lowest levels in years as higher interest rates to reduce inflation also slows economic growth. Net absorption in the United States totaled 23.9 million SF in the first two quarters. It was down from 80.3 million SF for the same…