After three straight quarterly declines, the Peoria Metro Business Index is leveling off according to the new SCOPE report. Bernard Goitein of the Center for Business and economic research, or CBER at Bradley University puts the report together. He says some ebb and flow is to be expected as the economy expands. Goitein says the tornado that swept through Washington will also provide an economic boost:
"More new building permits are already being issued, construction activity and employment will increase, and retail purchases that are nessesary to replace the items that were lost. So some of those impacts will be kind of a suprise, you know, we didn't expect that during the thrid quarter."
Goitein says the index shows the health care industry employment grew by 0.7% in the third quarter to over 32,000 jobs. Retail sales remain steady, as did the number of jobs in the Metro region. Goitein says leading economic indicators, like job postings, longer work weeks, and building permits, all point to limited growth in the near future.
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