The economic fundamentals for commercial real estate markets are sound. Gross domestic product (GDP) surpassed expectations in the first quarter, and strong job growth in March and April provide a favorable backdrop for demand for leased commercial space. The economic momentum through the first quarter is even more notable in light of widespread warnings last winter that recession risks were high. The commercial real estate market, though, had a soft start in 2019. A slowdown in demand for real estate would be troubling were it to occur in an environment where the macro fundamentals were weakening as well.