The U.S. market was stable during the fourth quarter of 2019. Absorption was positive and modestly stronger that the quarter prior, but it decelerated compared with the nation's performance during the fourth quarter of 2018. Asking rent rose 1.3% compared with the fourth quarter of 2018. Vacancy declined 20 basis pointed over the last 12 months. Appoximately 14.2 million SF of new product was delivered during 4Q19.