Seattle area leads nation in economic growth

By:  Melissa Santos

Dec 10, 2024

The Seattle area had the fastest economic growth among large U.S. metros last year, according to new federal data.

Why it matters: Although Seattle’s central business district has been slower to recover from the pandemic than some cities’ downtowns, the numbers released last week show the region’s economy as a whole has been booming.

By the numbers: The Seattle metro area’s gross domestic product increased by 6.2% from 2022 to 2023, hitting $487.8 billion last year, per the data from the U.S. Bureau of Economic Analysis.

• That was the highest growth rate among metro areas with a population over 1.5 million.

Zoom in: The tech and information industry drove much of the growth in the Seattle-Tacoma-Bellevue metro area, generating $133.7 billion in the region last year — up from $115.8 billion in 2022, per BEA data.

• The retail industry also made gains, rising from $44.3 billion in economic output in 2022 to over $50 billion last year.

What they’re saying:  Read More

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