The San Diego metropolitan area’s economy grew late last year at its slowest pace since 2010, based on a series of government indexes was reported Tuesday.
The Federal Reserve Bank of St. Louis monitors the economic health of 50 major U.S. metropolitan areas with indexes that track 12 business yardsticks, according to the Orange County Register. The Economic Conditions Indexes date to 1990.
The San Diego region saw a significant dip in year-over-year growth in these indexes compared with both the previous-year expansion pace and performance since the Great Recession ended, according to the Register.
Last year’s sluggish business pace has been blamed on pre-election jitters, with some evidence of a modest rebound since Election Day.
San Diego showed a 2.7 percent growth in the 2016 fourth quarter vs. 4.3 percent a year earlier and 3.8 percent average since 2010. That was the slowest growth since 2010’s fourth quarter.
—City News Service
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