The February 2025 Washington Monthly Economic Report is now available.

Here are some key highlights from this month's report:

• Strong Revenue Growth: General Fund-State (GF-S) revenue collections exceeded expectations by $60.5 million (+2.6%), helping offset previous shortfalls.
• Mixed Job Market Trends: 43,600 new jobs (seasonally adjusted) were added in November and December, primarily due to 33,000 Boeing workers returning after the strike. Despite unemployment falling to 4.5% in December, labor force participation declined.
• Trade Disruptions & Recovery: Exports dropped 15.9% YoY due to Boeing-related disruptions but increased 8.5% MoM. Imports fell 1.2% YoY but showed a 1.6% MoM rise.
• Housing Market Strength: 38,600 new building permits were issued in Q4 2024, reflecting balanced growth across single-family and multi-family homes. Median home prices rose 10% YoY to $641,700 though they dipped 1.6% QoQ.
• Surge in Auto Sales: New vehicle registrations hit 307,810 (seasonally adjusted) in January—the highest level since April 2021. This marks an 11% YoY increase, showcasing strong consumer demand.

Check out the full report for more insights on Washington’s evolving economy.