Photo courtesy of Pixabay user USA-Reiseblogger
(SEATTLE) There have been predictions of what’s in store for the nation’s economy, and now we’re getting a more regional forecast as well.
For a quarter of a century, Dick Conway was part of a team that published the quarterly Puget Sound Economic Forecaster. In 2017, he sold it, and began writing a new textbook called “Empirical Regional Economics: Base Theory, Models and Applications.”
The Puget Sound Business Journal reached out to Conway to ask his thoughts on our economic future. Conway says he hasn’t been tracking numbers as closely as he once had, but offered this email response:
“I think the local economy is in for a shallow recession followed by a period of slow growth,” he wrote, adding he has three concerns: “a likely national recession, cutbacks in the tech sector, and overbuilding in both the residential and commercial sectors.”
As to that last point: According to a report earlier this summer, multi-family building is forecast to hit a 5 year high.
