Economic Indicators: Federal Spending Up, Unemployment Down

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Total federal procurement spending in Fairfax County increased 2.5 percent in federal fiscal year 2014, according to the recent Economic Indicators report. There was additional good news moving into the fall.

What’s Up

In July and August, sales tax receipts in Fairfax County were up 5.2 percent.

The number of homes sold in Fairfax County in August increased 2.7 percent from a year ago; up 10.7 percent year-to-date.

The number of active listings of homes for sale in the county increased 15.7 percent in August from a year ago.

The Consumer Confidence Index rebounded in August after declining in July.

 

What’s Down

In August 2015, the average sales price of all homes sold in Fairfax County decreased 1.4 percent compared to the average sales price a year ago.

The July unemployment rate in Fairfax County was 3.7 percent, down from 4 percent in June.

Read Latest Economic Indicators Report

 

The monthly Economic Indicators gives a snapshot of the economic climate and provides helpful information for county residents and businesses. It is also one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budgetWe encourage you to stay informed about these conditions that impact the county’s economy.

 

More Economic News

 


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