Report: Regional economy slowing, but not at rate of national economy

Inland Empire business activity is declining, but the downturn is not occurring at the same pace as the rest of the nation, University of California Riverside economists said Friday, Sept. 23.The University of California Riverside School of Business’ Center for Economic Forecasting and Development released its quarterly Inland Empire Business Activity Index, showing that area businesses experienced a 1.6% growth rate during the second quarter of 2022 – the most recent data available – a steep drop from the 4.7% expansion in the first three months of the year.Despite the significant contraction, the rate still contrasted markedly with the negative 0.6% rate for the nation as a whole during the same quarter, according to the report.Successive periods of sliding gross domest
Subscribe or log in to read the rest of this content.