Steve Scranton, CFA’s analysis highlights a steady economic performance for the Tri-Cities thus far in 2024. Despite a slight rise in unemployment, the region's resilience is supported by strong construction activity and population growth, fueled by relocations from larger cities. Scranton emphasizes the importance of proactive planning in housing and infrastructure to sustain this growth. The bifurcated economy remains a concern, with inflation impacting lower-wage earners more significantly. Read more about these economic trends in the Tri-Cities Area Journal of Business: https://lnkd.in/ga4euGx3
Washington Trust Bank’s Post
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Mass Transit Magazine 40 Under 40 2020, APTA Emerging Leader Class of 2022, Association for Commuter Transportation 40 Under 40 Honoree 2022
Baltimore’s economy is growing far faster than the U.S. economy as a whole, which grew by 1.9%. It’s also far outpacing Maryland’s 1.6% growth. Within Maryland, Baltimore City has the second-fastest growing GDP. It trails only Somerset County, which has an economy 50 times smaller. https://lnkd.in/eQ3ZbrXK
Baltimore’s economy growing faster than almost anywhere in Maryland
thebaltimorebanner.com
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Selwyn continues to perform. See the official Selwyn District Council. Resilient Economy Shows Impressive Growth Selwyn remains one of the fastest growing economies in the country, new economic figures show. Latest figures from economic analysts Infometrics shows Selwyn's economy grew by 3.5% GDP over the year to September 2023, making it the third fastest growing territorial authority. The figures show Selwyn's economy stands resilient, supported by robust employment and consumer spending. A 5.9% growth in employment of Selwyn residents over the year to September underlined the growing diversity of the Selwyn economy with growth in every industry except agriculture. This employment surge is underpinned by strong population growth, estimated at 5.2% in the year to June 2023 by Stats NZ. Consumer spending in Selwyn has seen an impressive increase, with a12.4% growth over the year to September 2023. This growth accelerated to 15% in the September 2023 quarter, highlighting the district's robust economic health. Rising prices and a burgeoning population are identified as key drivers behind the consumer spending growth. This trend not only points to economic prosperity but also signifies a high level of consumer confidence within the district. While house values in Selwyn experienced a moderate decline, sales volumes were up by 9.1% over the year to September 2023, compared to the 7.6% fall observed in Canterbury and 13.7% fall nationally during the same period. There are indications of a slowdown in investment in new houses. In the September quarter, only 291 new dwellings were consented in Selwyn, marking the district's lowest figure since 2019. This trend aligns with broader challenges faced by the residential construction sector, including rising build costs and high interest rates. The continued growth in the economy even during a slowdown in construction highlights a shift towards a more diversified economy with, less reliance on construction. Mayor Sam Broughton expressed optimism about Selwyn's economic trajectory, "Our community's resilience and adaptability are evident in these figures. We remain committed to fostering a vibrant economy that not only grows but does so sustainably, creating opportunities for our residents and businesses alike and supports strengthening our community." Note: The Infometrics Quarterly Economic Profile is available online at https://lnkd.in/gQyJA2U8. ENDS Selwyn District Council media
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This morning our directors of investment, Scott Nurski and Kevin O'Reilly O’Reilly attended the 2024 Economic Outlook presented by The Right Place, Inc. Of the many insights from economic experts, the overall consensus is that #grandrapids is thriving. Here are a few highlights: - Grand Rapids experienced a 7.8% increase in population over the past decade. - The city boasts a competitive cost of living, 10% below the national average. - Over the past year, the region saw a 4% increase in the labor force. between 2022-2023. #economicoutlook #multifamily #investmentsales #brokers #cre
“We are back to being the thriving regional economy we were before. When you look at virtually every metric, we’re setting a record high.”
‘Thriving’ Grand Rapids region economy exceeds pre-pandemic levels
https://www.crainsgrandrapids.com
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🔶 National Summary Of Overall Economic Activity - Beige Book -May 2024 From early April to mid-May, national economic activity expanded modestly with mixed conditions across industries and districts. Retail and auto sales were flat, while travel and tourism grew. Nonfinancial services and housing demand rose slightly, but commercial real estate softened. Employment saw slight gains, with some labor shortages persisting. Price growth was modest, with consumers pushing back on increases. District highlights showed varied economic conditions, with some regions reporting cautious optimism and others noting increased uncertainty. ---- -Boston: Economic activity flat; modest price increases; stable employment; slight weakening in real estate; outlook uncertain but cautiously optimistic. -New York: Slight growth; solid labor market; slight consumer spending increase; modest housing and price gains. -Philadelphia: Slight business growth; employment and wage increases; stable new-home sales; positive growth expectations. -Cleveland: Slight business growth; slowed due to high interest rates; stable wages, input costs, and prices. -Richmond: Modest economic expansion; mixed consumer spending; increased import activity; stable manufacturing and services demand. -Atlanta: Slight growth; stabilizing labor markets; healthy consumer demand; mixed real estate conditions; varied transportation activity. -Chicago: Slight economic growth; modest increases in employment, construction, and real estate; slightly tighter financial conditions. -St. Louis: Slight growth; slightly pessimistic outlook compared to previous report, but better than last year. -Minneapolis: Slight growth; softened labor demand; cautious consumer spending; slight manufacturing and construction improvements. -Kansas City: Moderate growth; increased household spending; modest job gains; slight price increases. -Dallas: Flat to slight growth; gains in manufacturing, banking, and energy; stable employment; slightly more pessimistic outlook. -San Francisco: Largely unchanged economic activity and employment; slight increases in prices and retail sales; weakened services and real estate markets.
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Recently attended this presentation on mid-term economic outlook for MT. Quick Summary: - Hours worked is declining - 34.4 average weekly hours, US - Labor shortages are easing, but only slightly - Construction/Manufacturing saw strong wage growth in 2022, still a booming industry, and lack of workers. Many workers lack “soft skills" - Half of Missoula County area zip codes saw 50% housing price growth (2020-2022). Rattlesnake 49.8%, Philipsburg 80.7%! - MT - fears of a recession are disappearing (refer to last slide)
The Economic Outlook for the U.S. and Montana
bber.umt.edu
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Examining the economic impact of key sectors of the economy is vital to the Philadelphia Fed’s mission to support a strong and stable economy. Anchor institutions, often called “eds and meds,” not only play a large role in the nation’s economy but also within state economies — as large employers, partners in regional development, and providers of critical services in communities. State-level measures of anchor institution impacts are now available for 2019 and 2004, complementing regional-level data available on the Anchor Economy Dashboard. These data provide policymakers and community leaders and decision makers with a robust snapshot of higher education and hospital economic activity, income, and gross value added within each state. Also provided is a reliance index, which shows how dependent each state is on these sectors for total economic output. View each state’s anchor impact profile here: https://bit.ly/3RMwC1r #anchoreconomy #stateeconomy #regionaleconomy
State Anchor Economy Impacts
philadelphiafed.org
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Balancing the various aspects of the economy can be challenging, especially when it comes to addressing the housing shortage. The high demand for housing has led to a significant portion of investments being channeled into real estate, potentially at the expense of other sectors of the economy. This imbalance can have far-reaching consequences, affecting the overall economic stability and growth. It is important to consider the broader implications of investing heavily in one particular area and strive to maintain a balanced approach to economic development. #EconomicBalance #HousingShortage #InvestmentDiversification
Opinion: Canada is no longer one of the richest nations on Earth. Country after country is passing us by
theglobeandmail.com
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With economic anxiety on the rise, our midyear update underscores the crucial intersections of race and employment. Read our comprehensive analysis and join the conversation on fostering a just and inclusive economy. #EconomicAnalysis #RacialJustice #EconomicInclusion #JustEconomy
An Anxious Economy: A Mid-Year Race Jobs and the Economy Update » NCRC
https://ncrc.org
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Joins the dots and helps to focus the conversation around responsible business, bringing ideas and people together. Engagement and collaboration are the way forward in 2024.
Well timed. "CPP believes the pessimism identified by this year’s Local Economy Tracker should be a wake-up call to political leaders. CPP advocates for proactive investment in the drivers of fair growth, including high quality public services and an effective industrial strategy. Options for how an incoming government can fund these productivity-enhancing investments are set out in CPP’s recent report, Funding fair growth: How to transform the UK economy. They include reforming fiscal rules and reforming the UK tax system, including by abolishing ineffective tax reliefs on oil and gas companies. #inclusivegrowth #productivity #investment #ukeconomy #progressivepolicy #CPP #taxation #oilandgas
🚨 NEW | CPP’s annual Local Economy Tracker reveals widespread distrust in the Conservatives' ability to improve left-behind economies. This year the tracker paints a deeply fractured picture of the UK’s economic landscape. 58% of people in left-behind local economies think policies introduced by the Conservatives would have a negative impact on their local economy over the next 5 years. Read the full report here 👇
CPP’s Local Economy Tracker 2023
progressive-policy.net
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Great post to read this morning!📰🚀 Last week I was reading about how bad the economy was last year and that technically we were in a recession, to now reading about consistent economic growth! It's certainly visible across the market, speaking to clients it seems they are so much busier compared to this time last year, there are an abundance of great opportunities at the moment with no signs of slowing🙌 If you're in the market for a new opportunity, or perhaps this post has you curious, reach out to me today and let's discuss what's out there! 📧: Sam.page@eskrecruitment.co.uk #UK #Economy #Growth #Thriving #ESKRecruitment
UK economy grows in February as recovery gathers steam
https://www.cityam.com
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