Chicago Fed: Economic activity increases in November

The economy improved in November, which could benefit the commercial real estate market.

Economic activity improved in November, which could lead to more businesses for property management companies if the commercial real estate market sees benefits from a better overall economy.

The Chicago Fed National Activity Index jumped to 0.10 from -0.64 in October. The three-month average increased from -0.59 to -0.20. The index takes into account numerous indicators such as production and income, employment, personal consumption, housing, sales, orders and inventories.

Despite still being below historical levels, the improving index could be positive for many aspects of the economy, including the commercial real estate market.

As the year comes to a close, economic improvement is expected to slow as a result of Hurricane Sandy and "fiscal cliff" concerns. Additional factors that will likely contribute to stagnant activity include the recession in Europe and tensions in the Middle East.

Fannie Mae chief economist Doug Duncan said that fourth quarter economic growth is expected to slow from the pace seen in the previous quarter. 

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