GDP GROWTH
The nation’s gross domestic product (GDP) grew at an annual rate of 2.6% in the third quarter, a reversal from six previous months of decline. Although the Commerce Department data was better than forecast, there are expectations the economy will weaken under the strain of high inflation and rising interest rates.
There were third-quarter gains in exports, consumer spending, nonresidential fixed investment and local, state and federal government spending. These increases were partly offset by declines in residential fixed investment and private inventory investment.
There were increases in exports of goods and services. Leading contributors to the increase were industrial supplies, petroleum and other nondurable goods and nonautomotive capital goods. There also was improvement in travel and business services.
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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