【CBRE】Economic Watch: Fed Still Unlikely to Boost Rates Despite Strong Q3 GDP Growth
【CBRE】Economic Watch: Fed Still Unlikely to Boost Rates Despite Strong Q3 GDP Growth
2023.10.27
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- U.S. GDP increased by 4.9% on an annualized basis in Q3, exceeding expectations of 4.7%.
- Although this strong growth complicates the fight against inflation, we continue to believe that the Fed is done hiking interest rates.
- CBRE expects that economic growth will slow in the fourth quarter and remain sluggish next year. The rapid rise of long-term interest rates will significantly restrain growth.
- Volatility in the bond market, particularly the rapid rise in 10-year Treasury yields, has caused us to downgrade our forecast for commercial real estate investment volumes, though we expect some recovery in the second half of 2024. Meanwhile, leasing activity should remain relatively resilient.
