In the second quarter, GDP posted one of its biggest jumps ever—6.5%. Take away the giant 33.4% bounce back from the pandemic in the third quarter of 2020, and it was the strongest quarter since 2003.
And the signs are promising for the rest of 2021.
"It looks like 2021 will deliver annual economic growth in the high 5% to mid-6% range," John Chang, senior vice president and director of research services at Marcus & Millichap, said in a recent video. "Now that's a bit below what economists have been forecasting, but it would still be the strongest year of growth since 1984. Strong GDP growth reflects gains in sectors across the broader economy. Things like consumption, international trade, housing, business, investment, and government spending."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
