C&W Industrial Fact: Continued Growth in the Industrial Sector: Vacancy and Spec Construction Back to Pre-recession Levels
The U. S. economy appears to have finally transitioned to a period of stronger growth that will likely be sustained over the next 12 to 18 months. Job creation was much stronger than expected and the economy added 288,000 jobs in June. U.S. factory output rose for the sixth consecutive month in July and over the past 12 months, manufacturing has risen 4.9%. Similar to the recent positive trends in the broader economy, the U.S. industrial sector also accelerated in the second quarter. Net demand remained strong and is on track to surpass last year’s total, with 95.7 msf of occupancy gains at mid-year. The Midwest region led the way with 22.7 msf of occupancy gains, followed by the West region with 20.9 msf.