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Suburban Maryland : Industrial Snapshot - Q4 2013

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Across the country, economic indicators suggest that the economy is starting to perk up. According to the latest data released by the Bureau of Economic Analysis, the GDP grew at a 4.1% annual pace in the third quarter and although that growth may taper in the fourth quarter, consumer confidence is optimistic. The national unemployment rate continued to decline as it was 7.0% in November, down 0.8 percentage points (pp) from a year ago.

In Maryland, the Bureau of Labor Statistics (BLS) reported a year-over-year decline of 0.3 pp in the state’s unemployment to 6.4% in November. Job growth continues to favor the professional business service sector; however, the trade, transportation and utilities sector experienced 1.4% employment growth - that’s 6,300 more jobs than the year before.

Source : Cushman & Wakefield