The economic outlook for Greater Washington is a mixed bag caught between two opposing forces that are dragging the forecast to a flatline.
That’s the latest finding from CBRE Group Inc.’s REVIVE Regional Vibrancy Index charting the D.C. area’s economic strengths and weaknesses in the wake of a pandemic that changed the core of how the region operates, from the shift to hybrid work to the evolution in how people get around.
CBRE (NYSE: CBRE) and the Washington Business Journal are partnering to produce the monthly index, tracking changes throughout 2024. The index in April fell 1.1% from the previous month to 62.9 out of 100. The data lags by about a month.
The score is being weighed down by commercial real estate, which remains hindered in the face of higher interest rates and softer demand.
“The region’s office market, which is one of the biggest in the country, is just going through a seminal moment in its history,” said Ian Anderson, CBRE’s senior director of research…
Read the full story from the Washington Business Journal.
