CIPS/Markit Construction PMI (Sep.)

The CIPS/Markit commercial property construction PMI for September was as high as it has been at any point since 2007. Increased construction will clearly dampen rents over the long term. But focusing on the shorter term, this is yet another indication that occupier market confidence is healthy and that the prospects for rents over the rest of 2014 and in 2015 are positive.

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