December 7, 2017
The Inland Empire claimed the top spot on the Federal Reserve Bank of St. Louis’s list of hottest economies in SoCal. Riverside and San Bernardino county business output grew on average at a 6.99% annual rate in Q2 2017, tops among five local metro areas tracked by the Fed in its Metro Area Economic Conditions Indexes.
Growth dipped a bit between April and June from Q1 2017 when it hit 7.13%, but compared to a year ago, it is up 4.77%. The Inland Empire ranked as the top performer in the region since the recession ended. Quarter-by-quarter, the region was No. 1 since mid-2012. Annual growth averaged 5.45% since 2010, which was SoCal’s best.
During the downturn last decade, the economy in Riverside and San Bernardino counties contracted at an average 4.54 annual rate in 2007 to 2009, which was the worst performer in SoCal.
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