Effects from persistently higher interest rates, combined with falling federal spending locally, have continued to weaken the local economy, according to the latest numbers from CBRE Group Inc.’s index charting Greater Washington’s economic progress.
CBRE’s researchers comb through thousands of data points on the state of labor, innovation, commercial real estate, residential real estate, political inertia, confidence and investor sentiment across the District, suburban Maryland and Northern Virginia to come up with a new score for the region’s economic performance every 30 days. The index fell 6.7% from the previous month to 60 in February — the data lags by about a month.
CBRE (NYSE: CBRE) and the Washington Business Journal are partnering to produce the monthly index, tracking changes throughout 2024.
This is the third month in a row the index has fallen.
In this round of the REVIVE Regional Vibrancy Index, CBRE added a new “mobility and visitation” component, which…
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