US Q1 commercial real estate activity fall

US Q1 commercial real estate activity fall

 

US commercial real estate activity fell during the first three months of this year and will likely continue on this track, a real estate trade group said on Wednesday.

 

The National Association of Realtors’ leading commercial real estate index fell 0.7 per cent, the third straight quarterly decline.

 

‘The moderate erosion in the index suggests that commercial activity, as measured by net absorption and the completion of new commercial buildings will be positive but somewhat weaker over the next six to nine months,’ said NAR chief economist Lawrence Yun, adding that this falloff in private non-residential investment could subtract a third to half a percentage point from economic growth. — REUTERS

 

Source: Business Times

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