QC economic growth rebounded in Q3 2022

Key Takeaways

The third quarter of 2022 saw economic growth rebound from its sluggish pace in the first half of the year. Though below the robust growth during the 2021 COVID-19 recovery, this pace is slightly above the long-term trend growth of the pre-COVID era. There is also some evidence that this growth at trend rates may be continuing into the near future.

While the job market is still strong in the region, there is some evidence of softening. The Average Weekly Earnings in the Quad Cities region only increased by 0.8% from March to September. In the face of relatively high consumer inflation, wage growth in the region is not keeping pace with the cost of living. 

Our Return-to-Normal Index showed mixed signals in the third quarter. The Quad Cities economy fell off its pace from the first half of the year during July, but the economy picked up again in August and an increased level of economic activity continued through September.


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Julie Forsythe
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Julie Forsythe
Senior Vice President, Business & Economic Growth
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