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US economic growth generally trended in a range of 1.5% and 2.5% since 2010, which has been enough growth to support positive demand for real estate. Even though first quarter
numbers generally come in slow and often bounce back midyear, our base case expectation for the full year 2017 continues to call for real GDP growth of 2.4%, furthering the trend.
As exhibit 1 reveals, the second half of 2016 experienced a pickup in GDP with an annualized rate of 3.5% during 3Q16 and 1.9% (preliminary release) during 4Q16, compared to 1.1% during the first half of the year.
Source : UBS AG
