Northwest economic growth likely will slow, forecaster says
The economy is slowing, but will continue growing.
In his January economic forecast released Thursday, Keitaro
Matsuda, senior economist with Union Bank of California,
said growth in Northwest housing sector will slow this year,
but the region "will likely maintain considerable momentum."
"The service-sector growth will continue and the region's
specialties -- aerospace and electronics manufacturing and
software -- will all benefit from the accelerating global
economy," he said
Matsuda predicted that employment growth in Washington,
which marked an increase of 3.1 percent in 2006, will fall
to 2.0 percent this year and 1.6 percent in 2008. Personal
income growth, he said, will rise this year by 6.5 percent,
down from a 7.4 percent increase last year.