July 31, 2013 by

Surge in Sales Tax Revenue Presages Improved Negotiation Outlook

Surge in Sales Tax Revenue Presages Improved Negotiation Outlook

By Jim Cline

Recent economic news has been characterized as tepid at best, but the most recent Washington State Department of Revenue report offers one of our clearest recent indicators that a solid economic recovery may be underway, at least in Washington State.  The recently released Department of Revenue First Quarter Sales tax numbers show a statewide jump from the preceding 12 months (Quarter 1, 2012) of 8 percent.  The City sales tax numbers can be found here. The County numbers can be found here. [Read more…]

Filed Under: Economic Developments, Economics
July 31, 2013 by

June CPI Report Shows Continued Low Inflation

June CPI Report Shows Continued Low Inflation

By Jim Cline and Kate Kremer

The just-released June CPI numbers show that inflation continues to be low.  The Seattle CPI-W index came in at 1.2% up 1/10 of a percentage from April but down from 2.7% from last June.  The All-Cities index came in at 1.8%, up from 0.9 in April and slightly up from last June’s 1.6%. This graph shows the movement over the past year.

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Filed Under: CPI, Economics
April 16, 2013 by

Jump in Seattle Area Home Prices Indicate Signs of Rebounding Local Economy

Jump in Seattle Area Home Prices Indicate Signs of Rebounding Local Economy

By Jim Cline

The just-released home sales data indicates some continued improvement in the local housing market.  This is also a good sign of a broader recovery not only of the Seattle area economy, but possibly a statewide recovery.  As we recently reported, the Washington State Economic and Revenue Forecast Council continues to indicate that the Washington State economy is recovering at a somewhat stronger rate than the national economy.

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Filed Under: Economics