Printer Friendly

Major metropolitan economies weaken.

ECONOMIES

A quarterly survey of 24 major U.S. metropolitan markets conducted by Grant Thornton found business activity in the third quarter of 1991 declined in 20 of the areas studied.

Nationwide, the Grant Thornton index, a composite of seven equally weighted economic indicators factory hours, nonfarm employment, construction permits, retail sales, business starts, business failures and money supply) fell .49 points to 108 in the third quarter. For the 12 months ending September 30, 1991, the index fell 1.52 points.

The index for New York posted a decline of 1.90 points in the third quarter, the steepest in the nation. The Washington, D.C., index fell by 1.40 points and San Diego's index dropped 1.38 points.

Only Denver, Cincinnati, Cleveland and San Francisco registered improvement, and in each case the gain was modest. The Denver index rose .26 points, while Cincinnati's was up .16 points, Cleveland's gained .12 points and San Francisco's index edged up .07 points.
COPYRIGHT 1992 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Mar 1, 1992
Words:162
Previous Article:Pennsylvania CPAs see gloomy 1992.
Next Article:Banking industry finances improve.
Topics:


Related Articles
Times Square: 'we told you so.' (comments about the delay in restoration work at Times Square subway station, reprinted from the open editorial page...
REUTERS BUSINESS BRIEFING ADDS DETAILED ECONOMIC FORCASTS.
Co-op/condo mortgage rates continue to rise.
No slowdown yet in hospitality industry.
OFFICIALS PLAN MEETING ON DAM'S QUAKE SAFETY.
Atlanta leads apartment construction market. (Building Blocks).
Future economy depends on minorities.
Regionalism and the new world economy: the No. 1 message for Southeast Michigan is that metropolitan regions--not cities, counties or states--define...

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters