Report | Economic insight for September 20, 2017
The economic data continued to surprise last week, with some temporary and some longer-lasting results. There were many temporary distortions – unemployment claims remain elevated versus trend, industrial production surprisingly contracted, and even headline inflation exceeded expectations, pushed up by higher gasoline and lodging prices. But some results may have longer-lasting impacts. Surprisingly weak retail sales in August was reinforced by downward revisions to prior months. And Hurricane Harvey's effect on the Houston real estate market will be felt for an extended period of time. Ryan Severino figures out what it all means for commercial real estate.
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