?Q2 2022 Economic Report Released

The U.S. economy contracted for the second straight quarter as a tightened monetary policy and high inflation took more steam out of consumer spending.

The Commerce Department said the nation’s Gross Domestic Product (GDP) – the value of all goods and services sold – fell by a 0.9% annualized rate in the second quarter.

The new reading coupled with the 1.6% decrease in Q1 means the economy has met the common definition for recession. But top officials and The Federal Reserve say the recession label doesn’t apply, because job growth, industrial production, spending and incomes all remain robust. The unemployment rate has been steadily decreasing for the last two quarters. Employers have hired for 1.56 million positions over four months, ending in June. READ THE FULL REPORT HERE

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The Naples – Ft Myers office was established in 2011 in response to the explosive growth in Southwest Florida and is now recognized as one of the most successful commercial brokerage firms in Southwest Florida. We are backed by the resources of the largest broker-owned firm in the nation. Each of our nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national network which includes 59 offices and nearly 1,000 brokerage professionals. These resources, combined with the office’s in-depth research capabilities and cutting-edge technology, enables our professionals to offer their clients the highest level of service in the industry.

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