San Diego's Economic Recovery Reaches New Heights
The value of all goods and services produced in San Diego County has topped $200 billion for the first time as the local economy continues growing at a pretty average rate. On Monday, the National University System Institute for Policy Research (NUSIPR) issued a report on the region's recovery.
NUSIPR economist Kelly Cunningham calls the the current rate of growth the Goldilocks Recovery, not too fast and not too slow. In fact, Cunningham said the rate of growth in San Diego puts the region in the middle of the national pack.
"Among those 381 defined metro areas, we were exactly average," Cunningham said. He said a 1.7 percent inflation adjustment in 2013 put San Diego's economic growth at an average rate.
Cunningham looked at the U.S. Bureau of Economic Analysis figures. Those numbers placed the economy's worth at $198 billion in 2013.
Given the growth rate of the regional economy, that puts Cunningham's estimate of the gross domestic product at just over $206 billion in 2014.