U.S. Economy Powering Through Volatility
The U.S. economy officially began its 11th consecutive year of growth in the second half of 2019, a new record for the longest economic expansion in history. The economy continued to add jobs during the first six months of 2019, although the pace of job growth has slowed from last year. Consumer confidence, while still high, has fluctuated since the beginning of the year—due in part to global economic concerns and trade disputes. Real GDP grew by 3.1% in the first quarter of 2019, 90 bps higher than the 2.2% growth rate in the fourth quarter of 2018. Cushman & Wakefield forecasts 2019 real GDP growth will be in the mid-2% range—a healthy backdrop for commercial real estate.
Read Cushman & Wakefield’s analysis of 2019 second quarter commercial real estate results by clicking on the links below.