Downward Trend Continues in Fourth Quarter
by Benard Goitein, Director, Center for Business and Economic Research
The Summary Peoria - Pekin Metropolitan Statistical Area (MSA) Index reveals the impressive expansion of the local economy through most of the 1990's. A local downturn began during the second half of 2000, eight months before the March 2001 onset of the national recession. The gains for the local Index in the second and in the fourth quarters of 2001 were erased by the renewed declines of 2002.
Detailed description of the fourth quarter indicators appears below. All data have been seasonally adjusted unless otherwise indicated. All discussions of quarter-to-quarter changes, e.g., from the third quarter of 2002 to the fourth quarter of 2002, involve "seasonally adjusted" changes, i.e., changes that occur above and beyond normal seasonal quarterly growth or decline. Maintenance of this business indicator database is funded by the Peoria Journal Star, and report preparation supported by the Turner Center for Entrepreneurship of Bradley University's Foster College of Business Administration.
For additional information regarding the downward trend and the descriptive narratives of each area, please visit our website. The narrative covers the following topics:
- Retail Trade
- Real Estate and Construction
- Labor Markets