Dees Stribling
Economy Watch: Consumers Less Optimistic Despite Economic Growth
Consumer confidence about short- and long-term economic prospects declined in April, according to the Conference Board’s latest Consumer Confidence Index,
Economy Watch: Worker Shortage Puts Clamp on Construction Hiring
Only 17 states added construction jobs in March, according to a recent Associated General Contractors of America analysis. While contractors in most states remain busy, they worry about being able to find enough workers to complete projects in the future.
Economy Watch: Hotels Enjoy a Bang-Up First Quarter
Hotel occupancy, average daily rate and revenue per available room all gained ground in the first quarter of 2017, STR recently reported, but an increase in development for the quarter could put pressure on pricing power.
Economy Watch: Architects Busier in March, to be More Active 2018
Architecture firm billings increased in March, according to the AIA’s latest Architecture Billings Index, indicating that design and construction activity should pick up later this year and in 2018.
Economy Watch: Multifamily Markets Softening
All four indexes of the NMHC’s quarterly survey were below the breakeven level of 50, indicating that U.S. apartment market conditions are softening despite continued strong demand. New supply is finally catching up, and there seems to be more caution among buyers and lenders, noted NMHC Chief Economist Mark Obrinsky.
Economy Watch: Beige Book Reveals Trends Benefitting CRE
All 12 of the Federal Reserve Districts reported increased economic activity in the latest Beige Book. Tourism and travel picked up, which is good for the hospitality industry, and non-residential construction remained strong.
Economy Watch: IMF Ups Forecast for 2017 Global Growth
Gains in infrastructure and trade support the IMF’s prediction for greater global economic growth than previously expected. However, risks to the forecast remain, such as widespread protectionism and a withdrawal from multilateralism.
Economy Watch: Industrial Still Likely to Benefit from Free Trade
While the Trump administration plans to bolster U.S. exports and reduce imports, a trade war with China or a U.S. withdrawal from NAFTA are unlikely, which bodes well for industrial development and absorption, according to a recent Cushman & Wakefield research report.
Economy Watch: Eds and Meds Help Sustain Markets in Down Times
A solid base of education and medical jobs can smooth out volatility in certain commercial real estate sectors during recessionary times, according to a new analysis from CBRE.
Economy Watch: Retail Sales Edge Down in March
While sales were down for the month, they gained ground in the first quarter, up 5.4 percent compared with the same quarter in 2016, according to the Census Bureau.