NAPM Regional Economic Update January 15, 2013 Grant D. Forsyth, Ph.D. Chief Economist The Regional Economy: Looking for Green Shoots Your are here.. U.S. GDP Growth Forecasts to 2017 Source: IMF, Global Insight, Economy.com, FOMC, Bloomberg, Blue Chip, Wall Street Journal, WA Governors Council of Economic Advisors, The Economist, and authors calculations. Unemployment Rates, Source: BLS and authors calculations. U.S. Unemployment Rates by Cohort, 2012 Source: BLS and authors calculations. Non-Farm Employment Growth, Source: BLS and authors calculations. Non-Farm Employment Growth Forecast, 2013 Population Growth, Source: U.S. Census, OFM, and authors calculations. Population Growth Forecast, 2013 Spokane Taxable Sales Growth, Source: WA DOR and authors calculations. Taxable Sales Growth Forecast, 2013 Spokane Real Median Household Income and Spending, Source: OFM, BEA, and authors calculations. +9% -2% -20% -9% Existing Home Price Growth, Source: FHFA and authors calculations. Existing Home Price Growth Forecast, 2013 Spokane+Kootenai Bank Performance, 2Q Q 2012 Source: FDIC. Spokane+Kootenai Growth in Residential Units Permitted, Source: Construction Monitor and authors calculations. Top 20 Spokane-Area Construction Projects, Journal of Business, 2012 Source: Journal of Business and authors calculations. Monthly Leading Indicator, Source: WA ESD, Economagic.com, Census, and authors calculations. Washington Per Capita Federal Procurement Dependency Relative to U.S., 2010 Source: Census, BEA,and authors calculations. Benton-Franklin ($12,400), Klickitat, Kitsap, Garfield, King. Spokane ($788) U.S. ($1,670) The Regional Economy: Looking for Green Shoots Your are not hereyet..