The Stephen S. Fuller Institute has released the November 2022 issue of the monthly Washington Economy Watch. In August 2022,
- the Coincident Index increased 4.9% from August 2021; and
- the Leading Index increased 7.2% from August 2021, a sharp increase from July 2022 (2.4%).
The Washington area’s economic performance, as tracked by the Washington Coincident Index, has experienced a slowing trend since February and does not appear to have benefited from the US economy’s renewed GDP growth during the third quarter. However, the Washington Leading Index, which is designed to forecast the Washington area’s near-term economic outlook, has been positive each month since April and its gains have been trending higher. This mixed performance offers insight into the underlying structure of the Washington area’s economy that will shape its performance going forward as the Federal Reserve Board focuses on reducing the inflation rate by continuing to raise interest rates with only secondary concerns about tripping the national economy into recession in 2023.
Read the Full Report: Here