The Arlington Economic Snapshot for last quarter is in – with what we’ll call “optistagnation” results. By this, we mean while there’s continued optimism – maybe “hope” – among businesses and investors for business growth, economic data is showing slowed commercial construction and deliveries, slowed housing listings, sales and reduced prices, rising vacancies in commercial rental spaces (with corresponding lowering of rent), increased number of businesses (that’s good!), unmoving employment data (though rising wages), rising regional consumer price index (CPI-U), rising tourism and retail sales (that’s a good sign, but also driving increase – per higher prices – in consumer credit balances and savings losses), and many more people getting out of town (air transportation increase).
So, some hopeful business optimism, and post-Covid entertainment & leisure release, but stagnation and deterioration in business economy fundamentals.
We can maintain hope, continue to concentrate on our own business fundamentals, including protection of resources, assets, workforce and spending increases. Punxsutawney Phil seems still to be sleeping.
As always, note this POV is semi-amateur economics through informed business ownership and engagement – i.e. the view from the front lines.