Jul
30

U.S. Industrial Sector Improving, but Recovery Remains Bumpy

By
– ArgusSoftwareBlog.com

The U.S. economy absorbed industrial space for the first time in 18 months, according to a new report released today by Cassidy Turley. In all, net demand for warehouse and flex space registered positive 6 million square feet – the biggest gain since the first quarter of 2008. The market leaders in the second quarter include Phoenix, Memphis, Louisville, Cincinnati, and Northern New Jersey – all of which recorded over 1 million square feet of positive demand. However, the report emphasizes that the industrial market will remain lackluster for several quarters to come.

“This report signals that businesses are gearing up for a year of better demand,” said Kevin Thorpe, Chief Economist for Cassidy Turley. “They are preparing for better demand related to consumer products, better demand for motor vehicles and parts, better demand for construction materials, but better demand should not to be confused with robust demand or even consistent demand.

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