MetroMonitor: Tracking Economic Recession and Recovery in America's 100 Largest Metropolitan Areas (3rd Quarter 2012)
Data Source: MetroMonitor
Of the 100 largest metro areas, most (88) saw output rise during the second quarter. However, more metro areas (73) saw output growth slow from the previous quarter than saw growth accelerate (27). Still, 34 have posted gains in output over each of the last four quarters, and by the second quarter of 2012, 43 had fully recovered or surpassed their pre-recession peak values of output. The largest quarterly gains were in the Texas metro areas of Austin, Houston, and Dallas with oil and gas, construction, logistics, manufacturing, and leisure driving growth. Strong growth extended west to the California metro areas of Riverside, Oxnard, San Jose, and San Francisco where information, logistics, and manufacturing tended to be the leading industries. More than half (13) of the 20 strongest metro area performers over the quarter were in the South, from Baton Rouge and Little Rock to Virginia Beach and Richmond. Output growth was much slower in older industrial metro areas. The bottom performers included six in Ohio (Akron, Cincinnati, Cleveland, Columbus, Dayton, and Youngstown) and four in Pennsylvania (Lancaster, Philadelphia, Pittsburgh, and Scranton).
Send us your comments to help further the discussion.