Despite persistent rumors of an impending recession spanning nearly a year, the third quarter of 2023 has shown that the data has yet to confirm such fears. While there has been a notable softening, a full-blown recession has been averted thanks to continued consumer spending bolstering the economy. The Federal Reserve’s ongoing interest rate increases, currently ranging from 5.25 percent to 5.5 percent, have had a discernible impact on the sale of commercial real estate across various sectors, including the industrial market, according to a Kidder Mathews industry report.
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