U.S. Industrial Market Rents Hit Highest Price on Record
The accelerated rate of vaccine distribution, fiscal stimulus packages, reopening of establishments and the static level of daily new cases of COVID-19 encouraged economic growth in Q1 as pent-up demand resulted in increased brick-and-mortar sales and overall consumer sentiment. With consumer spending plunging for services yet rising for durable goods, the industrial sector is well positioned to benefit from shifting trends. Reflecting the continued economic recovery, real gross domestic product (GDP) increased at an annual rate of 6.4% in the first quarter of 2021. In the fourth quarter of 2020, real GDP increased 4.3% and economists predict the U.S. GDP growth could exceed China’s in 2021.
Source: Colliers Research