The U.S. economy is proving resilient on the surface, but persistent inflation, cautious Fed policy and mixed signals reveal a far more uncertain outlook beneath the headlines.
- Consumer confidence improved in June, supported by easing gas prices.
- Consumer spending remains active, helping sustain apartment demand.
- Inflation continues to run hot, with PCE rising 4.1% year over year.
- The Federal Reserve held rates steady but maintained a cautious, hawkish tone.
- GDP growth was revised up to 2.1%, but underlying private demand weakened.
- Leading indicators still point to slower economic growth ahead despite recent gains.
- The labor market remains stable, with low layoffs but slower re-employment.
- Housing shows mixed signals: resale activity improved, but new home sales declined as supply increased.
- Multifamily faces competing forces. Strong demand drivers from affordability constraints still exist, but elevated new supply is creating leasing pressure.
For more information on the state of the U.S. Economy, including forecasts, watch all the episodes of the Economy Express series.
