IE Business Daily Business news for the Inland Empire.
Business activity in the Inland Empire grew two percent in the fourth quarter, effectively matching the national rate of growth during that time, according to a report.
For all of 2019, business activity in the Inland Empire grew 1.9 percent, compared to the national growth rate of 2.3 percent, according to the UC Riverside School of Business Center for Economic Forecasting and Development.
Both nationwide and in the Inland Empire, growth decreased from 2018 at 0.6 percent.
“The near term outlook remains solid with growth continuing into 2020, although there are some pressure points that have developed,” said Adam Fowler, research director at the Center for Economic Forecasting and one of the Index authors. “While we can count on continued growth in the IE’s logistics sector and other key industries over the next year, in the longer term, the economy will be held back by labor shortages caused in part by California’s lack of home supply and high cost of living relative to other parts of the nation.”
Business activity in the Inland Empire is expected to rise between 1.9 percent and 2.4 percent over the next year, according to the report.
