Signs of a Slowing Economy

Signs of a Slowing Economy

Orange County

Analysis by the Federal Reserve Bank of St. Louis created economic indexes for 68 major metropolitan areas across the nation has indicated an economic slowdown and the inland region is experiencing the impact. According to a dozen indexes analyzed by the Orange County Register the economy of the inland region grew at a nominal 1.6 percent annual rate during the 12-month period ending in March 2019 down from a 4.5 percent the previous year.  In addition, of the 68 major metropolitan areas included in the assessment, the inland region rated number 47 in economic growth down from number 9 the previous year.  The median growth across the 68 metropolitan regions was 2.3 percent, down from 2.7 percent growth the previous year. Overall it appears the California economy is cooling at a faster pace that other places in the nation. Seventy-Five percent of the markets tracked in California showed signs of economic slowdown compared to 60 percent of other areas tracked across the country based on the indicators used for this report. Nationally, at 7.5 percent Las Vegas, NV experienced the most expansive growth rate during the report period while at 1.9 percent, Tulsa, OK experienced the least growth. Click here to view the full report. Although the U.S. economy was strong throughout 2018, last November economists forecasted a slowdown beginning in the third quarter of 2019 as impacts from the massive 2017 tax cuts began to fade.

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