Economic indicators suggest good news for investors
The U.S. economy appears to be in a position of moderate growth. The advance estimate for first-quarter GDP growth from the Bureau of Economic Analysis was 2.3 percent — the highest first-quarter reading since 2015.
On the employment front, the U.S. economy added 164,000 jobs in April, according to the Bureau of Labor Statistics, and the unemployment rate fell to 3.9 percent — the lowest reading since 2000.
In addition, the number of jobs added in March was revised upward to 135,000, while the number added in February was revised down to 324,000. With these revisions, the BLS reports the three-month period saw an average increase of 208,000 jobs per month.
The report appears to have good news for real estate investors. Kevin Thorpe, global chief economist at Cushman & Wakefield, noted on Twitter that a low unemployment rate equals high job security, which equals strong consumer spending and is a strong multiplier for commercial real estate across nearly