| Will the US 2011 recovery be as unpredictable as Lady Gaga? The folks at CBRE seem to think so, according to itsannual trends report released yesterday. Despite all the improvement, expect an “uneven tempo of recovery” this year, with halting improvements rather than steady progress. The recovery will start with increasing job growth, but it will be inconsistent across industries, geographies, and periods of the year. The economy is the root cause of this uneven tempo; keep an eye on the key areas of trade, housing, andemployment to best track an accelerating or decelerating market. CBRE Econometric Advisors forecasts slow growth will leaveunemployment elevated until late this year. However, you can’t rule out a more immediate fall in unemployment or a double dip that brings the level above 12%, though unlikely. |
RECOVERY'S POKER FACE
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