Upbeat Atlanta data pushes the Colliers Index upwards to a 6, despite national hurdles.
The Colliers Index is going to get bumped slightly to a 6 for the month of December. The uptick comes as a result of preliminary CRE data for the fourth quarter in the Atlanta market looking very favorable (mostly). Additionally, the MSA experienced its strongest monthly job growth in October since June of 2020 when the economy began to reopen from the initial lockdowns brought on by the pandemic. The move upwards also takes place in spite of another miss on the national jobs front for November, continued inflation which has now been officially deemed as non-transitory, and the onset of yet another highly infectious Covid-19 variant.
Current Market Conditions
Following October’s better than expected jobs report, the November data was a disappointment, shattering hopes the economy had turned the corner from Covid-19’s Delta variant. The month’s 210,000 jobs added fell well below expectations of 573,000. Most of the jobs added came from Professional & Business Services, Transportation & Warehousing, and Construction. The biggest setback was in one of the sectors most affected by the pandemic, Retail Trade, which declined by 20,000 jobs.
Download the full report to learn about the economic data contributing to the Atlanta economic outlook for December including:
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Interest rates
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Employment statistics
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Unemployment rates
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GDP
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Oil
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Real estate development
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