E-Commerce Gives Industrial Sector a Nudge

The industrial sector has rebalanced in 2024 and is again growing at a steady pace after experiencing softer demand as the pandemic-fueled e-commerce boom waned last year, according to a CommercialEdge industrial market report for September.

Census Bureau figures show a 1.3% increase in e-commerce sales for the second quarter and 6.7% year-over-year growth, and e-commerce’s share of core retail sales has reached its highest level since the peak of the pandemic. The industrial segment also is being bolstered by a growing warehouse and storage sector, which has added nearly 25,000 jobs so far this year after shrinking 8.5% between May 2022 and December 2023. Reports that powerhouse Amazon is increasing its lease activity are a positive sign for the industrial sector.