ECONOMY: Inland area improves but still struggling : Economy

Posted on | November 19, 2012 | Comments

Inland Southern California is still close to the bottom of the economic pile but at least the numbers are improving a little.

The third-quarter report from CredAbility, a national non-profit credit counseling service, found that in the third quarter the metropolitan area made up from Riverside and San Bernardino counties had the fourth-worst economic conditions of the 30 major metros it measures.

That?s not cheering news, but in the first quarter, CredAbility has the Inland Empire as the third-worst metro. In the most-recent quarter, the Inland area is better than the Orlando and Tampa-St. Petersburg areas of Florida and Las Vegas.

Detroit, Miami, Chicago, Los Angeles and Atlanta are among the cities with economies that are limping. The five healthiest metros in the third quarter were Washington, Minneapolis, Boston, Houston and Dallas-Fort Worth.

The Inland area?s reading was 60.81 in the third quarter, and it has gotten better in each of the last five quarters. For the record, 70 is considered the break-even point for having an economy that is not in distress.

CredAbility bases its study on employment, housing values, net worth, credit strength and the management of household budgets. Nationally the rating was 70.4, down a little from the second quarter but up sharply in the last 12 months.

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Source: http://blog.pe.com/economy/2012/11/19/economy-inland-area-improves-but-still-struggling/

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