Local Economy Improving

by Coldwell Banker Evergreen Olympic Realty, Inc. on June 10, 2010

Thurston County is showing some signs of economic recovery according to the local Economic Development Council. The article below is from Tuesday’s Business Examiner and it discusses the EDC’s latest economic survey. While we are not out of the woods yet, many segments are showing positive signs. Still, the best moving commercial real estate is still priced with the current market conditions in mind. Those owners and sellers who price competitively are seeing activity. Those who are priced with assumptions of more favorable economic conditions than actually exist are seeing very little activity.

Thurston consumers, businesses confident in economy

Thurston County’s economy has turned the corner and is in a growth stage, according to the findings of the Economic Development Council’s first quarter Economic Vitality Index.

The Thurston County Consumer Confidence Index now stands at 102, which is its highest value since its inception in the first quarter of 2008. The Present Situation Index, which reflects households’ current perceptions about the economy, improved from 26 during the fourth quarter of 2009 to 55 in the first quarter of 2010.

The Expectations Index, which reflects where households think the local economy is headed in six months time, also improved, rising from 145 during the fourth quarter of 2009 to its current value of 167.

Local businesses, both large and small, also are expressing a degree of optimism about both current and future conditions.

The CEO Index has continued to improve since the second quarter of 2009. The fourth quarter of 2009 was the first time since the survey’s inception that there were more positive responses to the questions than negative ones, represented with an index value of 53. The first quarter of this year resulted in a further increase in the value to 56.

When asked about six months into the future, 59 percent of the CEOs felt that things would be the “same” for the local economy, while 41 percent felt that conditions would be “moderately better.” None felt the situation would get worse.

The Small Business Index shows a slight percentage of small business owners believe that conditions overall, and for their particular industries, are “substantially better.” The largest response rate for all questions was “moderately better.” From the Business Examiner, June 8, 2010.

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