April's economic snapshot is now available:

• April 2025 Washington Monthly Economic Report [PDF]

This month we have added trends on Washington imports and exports. We have also highlighted the possible impacts of a potential suspension of Boeing deliveries to China (p. 12).

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

• Revenue Shortfall: General Fund-State revenue collections from March 11 to April 10, 2025, fell short by $76.7 million (3.8%) compared to the forecast.
• Boeing Faces Tariff Challenges: Due to escalating U.S.-China trade tensions, China is threatening to suspend all contracts with Boeing, which could impact Washington's aerospace sector and potentially costing Boeing at least $4 billion in revenue for 2025. ​
• Job Market Softens: Washington experienced a loss of 5,200 nonfarm jobs in March, with significant declines in aerospace manufacturing and construction sectors, while the unemployment rate remained steady at 4.4%. ​
• Vehicle Sales Surge: New vehicle registrations in March surged by 18.1% to 298,400, driven partly by a backlog from a licensing system update and anticipation of tariffs. ​
• Housing Market Cools: In February, building permits issued in Washington decreased by 5,600 year-over-year, signaling a cooling in housing market activity. ​

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