The economy’s underlying fundamentals remain solid, underpinned by a robust job market. An average of 202,000 new jobs were created every month in 2018—more than the monthly averages in both 2016 and 2017. Stimulus from the Tax Cuts and Jobs Act of 2017 will keep demand for office space growing at a strong pace. Office-using job growth in Q1 2018 was stronger than the 2017 average. Industrial output rose 3.2%—the largest 6-month growth rate for any period since 2010. Retail sales for March recorded an increase at auto dealers, furniture and home stores, and electronic and appliance sellers.
Read Cushman & Wakefield’s analysis of 2018 first quarter commercial real estate results by clicking on the links below.