Thursday, June 30, 2011

Boise sees slightly improved outlook.

This from the Business Insider, an Idaho Statesman weekly magazine.

ECONOMIC OUTPUT GROWS The Boise region outpaced the country and ranked in the top third of the 100 largest metro areas in its economic growth in the first quarter of 2011, according to a report by the Brookings Institution. The gross metro product, the value of all goods and services produced, grew by sixth-tenths of 1 percent from the previous quarter. The national average was four-tenths of 1 percent.

HOW DID THAT HAPPEN? Brookings analysts say exports played a large role and Micron Technology Inc. has continued to recover. The out-of-country sales have been bringing cash into the region.

JOB GROWTH IS UP, TOO Employment grew by nearly 1 percent in the first quarter. That ranked Boise ninth best among the top metro regions. The growth rate was three times the national average.

HOWEVER... When Brookings crunched the numbers on several economic indicators, the Boise region, which includes Ada, Canyon, Gem, Owyhee and Boise counties, was weaker than other metros in its performance recovering from the recession. The reasons: a naggingly high unemployment rate — which continued to rise as it dropped elsewhere in the country — and the region’s plummeting housing market.

 

 

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