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Does anyone know why DC has slowed down so dramatically? High growth area, seemingly very healthy... What gives?
GDP Growth rates fluctuate from year-to-year.
2011-2012
San Francisco +10.33%
Seattle +7.17%
New York +6.70%
Houston +5.91%
Chicago +5.16%
Dallas +5.01%
Boston +4.69%
Atlanta +4.55%
Atlanta +3.91%
Los Angeles +3.77%
Miami +2.75%
Washington DC +2.28%
2012-2013
Seattle +5.94%
Houston +5.66%
San Francisco +5.23%
Miami +5.59%
Dallas +5.03%
Atlanta +4.45%
Los Angeles +3.76%
New York +3.21%
Philadelphia +2.72%
Boston +2.52%
Chicago +2.28%
Washington DC +1.56%
2013-2014
San Francisco +7.28%
Atlanta +6.55%
Seattle +5.96%
Miami +5.49%
Dallas +5.30%
Philadelphia +4.50%
Chicago +4.45%
Los Angeles +4.25%
New York +4.11%
Boston +3.55%
Washington DC +3.07%
Houston +2.79%
2014-2015
San Francisco +7.52%
Atlanta +6.76%
Boston +6.33%
Miami +6.94%
Seattle +5.96%
Los Angeles +5.88%
Dallas +5.03%
Houston +4.53%
Chicago +4.43%
New York +4.18%
Washington DC +4.05%
Philadelphia +3.29%
2015-2016
San Francisco +6.54%
Atlanta +6.34%
Seattle +5.00%
New York +4.33%
Dallas +4.10%
Washington DC +4.09%
Boston +3.72%
Los Angeles +3.17%
Philadelphia +1.71%
Houston -1.73%
Chicago +1.72%
2016-2017
San Francisco +9.74%
Seattle +7.14%
Miami +5.59%
Atlanta +5.42%
Dallas +5.26%
Los Angeles +4.94%
Houston +4.19%
Boston +3.58%
Washington DC +3.34%
New York +3.23%
Chicago +2.78%
Philadelphia +0.96%
2017-2018
Seattle +9.16%
San Francisco +8.30%
Houston +6.99%
Boston +6.46%
Dallas +6.45%
New York +6.03%
Miami +5.88%
Atlanta +5.65%
Los Angeles +5.44%
Chicago +5.26%
Washington DC +4.19%
Philadelphia +4.06%
2018-2019
Atlanta +6.56%
Seattle +6.10%
San Francisco +5.70%
Dallas +5.67%
Boston +5.20%
New York +4.68%
Los Angeles +4.36%
Miami +3.88%
Washington DC +3.65%
Philadelphia +3.44%
Chicago +2.85%
Houston +0.07%
2019-2020
Seattle +0.40%
San Francisco -0.08%
Dallas -0.38%
Washington -0.45%
Boston -0.61%
Miami -1.87%
Philadelphia -2.44%
Atlanta -2.73%
Los Angeles -2.85%
New York -2.93%
Houston 3.16%
Chicago -3.88%
2020-2021
Miami +13.62%
San Francisco +13.60%
Los Angeles +11.06%
Atlanta +11.03%
Dallas +10.74%
Chicago +10.40%
Seattle +10.36%
Boston +10.16%
Houston +9.81%
New York +9.33%
Philadelphia +8.69%
Washington DC +7.62%
Location: That star on your map in the middle of the East Coast, DMV
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Quote:
Originally Posted by mwj119
Does anyone know why DC has slowed down so dramatically? High growth area, seemingly very healthy... What gives?
The first half of the prior decade economy took a hit due to sequestration and chilled gov't spending. Since then however it's diversified as an economy. In the years leading up to the pandemic the annual GDP growth hovered between 3-4% ish, as opposed to 1-2% in the early decade. Which is ironic that when the last Republican administration took over the government in 2016 is roughly when spending went up and the economy began to tick up slightly more.
Last edited by the resident09; 03-13-2023 at 06:05 AM..
The first half of the prior decade economy took a hit due to sequestration and chilled gov't spending. Since then however it's diversified as an economy. In the years leading up to the pandemic the annual GDP growth hovered between 3-4% ish, as opposed to 1-2% in the early decade. Which is ironic that when the last Republican administration took over the government in 2016 is roughly when spending went up and the economy began to tick up slightly more.
I think this tech slump is going to be good for Seattle to diversify its economy some. SLU is already getting increasingly biomedical heavy.
I agree. Usually it takes a gut punch to incentivize diversification. We’ve been seeing this in Houston too in the later half of the 2010s due to the oil slump.
Seriously, when do SF and SJ get combined on these? It doesn't make much sense to keep them separate given the size of the other agglomerations being used in comparison.
I think this tech slump is going to be good for Seattle to diversify its economy some. SLU is already getting increasingly biomedical heavy.
If you mean we should want our biomedical sector to grow, absolutely. It's a small fraction of the size of our regular tech side. (And I hope today's Seagen sale announcement doesn't mean they'll shrink locally.) Generally we're good on the institutional side but not very big on the corporate side.
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