Transwestern’s New Jersey Industrial Market Report Q1 2017

On Apr 19, 2017

According to Transwestern, E-Commerce sales continue to rise in the United States. During 2016, total e-commerce sales increased by more than 15% and accounted for 8.1% of total retail sales. This is considerable growth from 7.3% in 2015. While major retailers are feeling the adverse effects of e-commerce, the industrial market continues to thrive as product is shipped directly from the warehouse to the consumer. In addition, the manufacturing sector is resurging as the latest Institute of Supply Management (ISM) report continues to show increased new orders and production. Perhaps more importantly, labor is growing as several companies are bringing jobs back to the U.S. as part of the Reshoring Initiative.

Following consecutive years of record growth, the Port of New York and New Jersey’s cargo volume for 2016 finished slightly below the record-setting 2015 level. Upgrades continue to be made at the ports while the Bayonne Bridge “Raise the Roadway” project, designed to accommodate larger container ships, took a major step as its newly elevated roadway opened to drivers in February. In addition, U.S. consumer confidence is currently at its highest level since December of 2000, which is a good sign for the growing retail and wholesale sectors.

Download full report here.

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