Dees Stribling
Economy Watch: Industrial Market Stays Tight, Despite New Product
The U.S. industrial market ended the first quarter of 2018 with a 5 percent vacancy rate overall, even though a significant amount of new construction was delivered, according to a new Avison Young report.
Economy Watch: Tech Advancement Requires More Employees, Not Fewer
Even as industries shift to more advanced, automated processes, companies still plan to increase their headcounts in the next two to three years, according to a recent ManpowerGroup report.
Economy Watch: Number of Planned CRE Projects Jumped in April
Twelve projects each with a value of $100 million or more entered planning in April, up from six projects in March, according to the latest Dodge Data & Analytics report.
Economy Watch: Employment Gain More Modest in April
Employment gains in February and March combined were also 30,000 more than previously reported, according to the Bureau of Labor Statistics.
Economy Watch: Demand for Construction Workers Rises
Skilled labor is particularly in demand, and the sector’s unemployment rate was the lowest national March rate on record. Price increases for materials pose the greatest threat to the continued growth of construction activity.
Economy Watch: Construction Spending Edges Down in March
Construction in the commercial sector slipped 2.3 percent from the previous month, but the silver lining is a 8.1 percent gain compared to March 2017, the Census Bureau reported.
Economy Watch: GDP Growth Slower in Q1
Real U.S. GDP increased 2.3 percent in the first quarter of 2018, according to the Bureau of Economic Analysis’ first estimate, coming in less than the 2.9 percent growth achieved in the previous quarter.
Economy Watch: IMF Predicts More Growth in 2018, Less Next Year
Advanced economies, including the U.S., will continue to expand above their potential growth rates this year, the International Monetary Fund’s latest World Economic Outlook, which will likely support robust real estate markets in 2018.
Economy Watch: Most States Reaching Full Employment
Unemployment rates were stable in 45 states and D.C. in March, the Bureau of Labor Statistics recently reported.
Economy Watch: Architectural Billings Slow in March
In the midst of construction labor shortages, project backlogs are currently in excess of six months—their highest post-recession level—The American Institute of Architects reported in its latest Architecture Billings Index.