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Business Barometer: Closing Thoughts

Business Barometer is a quarterly GSI publication that highlights significant economic indicators for the greater-Spokane region, as told by four local economists. The blog series contains eight posts; you’re reading post #8.

Grant Forsyth | Avista Chief Economist: The US Gross Domestic Product (GDP) has been hit by the recent rapid appreciation of the dollar. After the weak first-quarter GDP, most economists shifted their forecasts downward. That may imply slower than expected domestic growth over the next five years. We are currently doing better than the nation as a whole, but the national trend will inevitably have an impact on our local and regional economies.

Steve Scranton | Chief Investment Officer, Washington Trust Bank: I am continuing to watch oil prices, which I anticipate will stay in the same general price range, as well as the strength of the dollar. While the strong dollar is unfavorable to our areaโ€™s exports, we should see lower prices on electronics and other imports. Overall, if we stay in the current range, it will be a net benefit to our Spokane-area economy.

Doug Tweedy | Regional Economist, Washington State Labor Market & Economic Analysis: Our jobs recovery started in 2012 and it was quite slow for the first few years, but it is definitely heating up.

Shaun Oโ€™L. Higgins | Managing Principal of The Oxalis Group LLC: All things considered, the first quarter results bode well for Spokaneโ€™s economy for the rest of 2015.

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