Business activity in the Inland Empire continued to rise in the latest numbers, standing in stark contrast to the decline in GDP at the national level, according to the new Inland Empire Business Activity Index released today by the UCR School of Business Center for Economic Forecasting and Development. The increase in the region’s business activity in the second quarter of 2022 (the latest data available) does, however, represent a significant decline in growth from recent quarters.
Business activity in the Inland Empire expanded by 1.6% in the latest numbers compared to 4.7% in the first quarter of 2022 and 6.4% in the fourth quarter of 2021. U.S. GDP, on the other hand, contracted by 0.6% in the latest quarter. Moreover, the short-term outlook for the Inland Empire remains positive, with local business activity forecast to rise between 2% and 3% over the next 12 months.
According to the analysis, the longer term decline in…
