Inland Empire economy still on road to recovery, but slowing ahead

Inland Empire business activity surpassed national growth in the most recent quarter, but signs are pointing to a slowdown going into 2022, with housing costs among the factors imposing constraints on labor, University of California Riverside economists said recently.The UCR School of Business’ Center for Economic Forecasting & Development released its quarterly Inland Empire Business Activity Index, Thursday, Dec. 9, showing that area businesses experienced a 4.5% increase in consumer demand in the third quarter, compared to only a 2.1% increase nationwide.Over the next two quarters, regional business activity is likely to expand between 3% and 6% – below the levels reached in the first half of 2021, according to the center.“This slowdown is to be expected as we move
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