A review and preview of Washington’s economy in The Seattle Times:
Exports were by far the strongest sector of the U.S. economy last quarter, growing at a blistering pace that would reach 19.1 percent if continued all year.
That’s good news for Washington, the nation’s most export-dependent state. In the first three quarters of 2007, the state exported nearly $47 billion worth of goods, a 23.4 percent increase over the same period last year. Airplanes and parts made up nearly two-thirds of the state’s exports — and nearly 80 percent of Boeing’s 2007 orders through November were from outside the U.S.
So much of the media coverage — national TV especially — emphasizes the weaknesses of the economy, housing in particular. Washington’s governor, Christine Gregoire, appears to detect the same thing, judging by an interview with the Vancouver Columbian’s editorial board.
“It’s not a time for new programs,” she said. “While we’re strong, and our import-export market is booming ? I don’t know, in the end, that we can control the angst in our consumers based on what they are seeing on national television about what’s going on elsewhere.”
We’d guess the doom-mongering comes mostly from the media’s preference for bad news, heightened during an election year when reporters get to allot blame according to their political leanings. Don’t let bias beat down balance, friends.
P.S. And here’s a piece in the Boca Raton News: “Long term economic health here looks good”
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