APRIL 14, 2023 Economic Update

1. CPI INFLATION The Consumer Price Index (CPI) rose 0.1% month-over-month and 5.0% year-over-year through March, according to the Bureau of Labor Statistics’ latest release. It was the slowest monthly climb for prices since December. Energy prices are down 6.4% year-over-year, with declines accelerating in March, falling 3.5% in March compared to a more tepid …

APRIL 12, 2024 Economic Update

1. HOMEBUYERS ADJUSTING TO HIGHER INTEREST RATES A new survey by Fannie Mae suggests that home buyers are gradually adjusting to higher mortgage rates despite increasingly negative sentiments about the housing market. Fannie Mae’s Home Purchase Sentiment Index dropped in March for the first time since November, primarily driven by mortgage rates that remain near …

MARCH 29, 2024 Economic Update

1. INDUSTRIAL’S LARGEST OPERATORS EXPAND According to an article by Commercial Observer, Industrial real estate heavyweights Prologis and Link Logistics are leading an ongoing expansion in warehouse use despite recent reports of a post-COVIDboom slow in demand. Industrial real estate demand has softened in recent months but has retracted from record double-digit growth experienced in …

MARCH 17, 2023 Economic Update

1. INFLATION The Consumer Price Index (CPI) rose 0.4% month-over-month and 6.0% year-over-year on a seasonally adjusted basis through February, according to the Bureau of Labor Statistics’ March 14th release. Both the monthly and annual measures decelerated from January. Last month’s annual inflation rate was the lowest since September 2021, while the previous two months …

MARCH 15, 2024 Economic Update

1. CURRENT ECONOMIC CONDITIONS (BEIGE BOOK) According to the March 6th, 2024, release of the Federal Reserve’s Beige Book, national economic activity increased over the previous six-week period. Eight of the twelve Federal Reserve districts reported slight to modest growth; three indicated soft growth, while one indicated a slight softening of growth. Consumer spending ticked …