Weekly Economic Trends and Indicators

The Quad Cities region is a diverse economy with a manufacturing sector that contributes much more to economic growth here than on average across the country. However, there is much more to the Quad Cities economy. This week we depart from our usual analysis of the headlines to take a more detailed look at the economic performance of the Quad Cities region over the last few years. In particular, we are looking at the annual regional GDP figures from the Bureau of Economic Analysis (BEA) to pinpoint the sectors with the fastest growth by county for the six-county Quad Cities Chamber service area.

As the economic shock of the COVID-19 pandemic recedes further into history, it is easier to see the post-COVID trends start to emerge. For this analysis, we are looking for sectors that have:

• expanded beyond pre-COVID output levels
• experienced consistent, steady, and faster than average growth in the value of output adjusted for inflation during the recovery
• had no more than a 1% annual decline in 2022 or 2023 (most recent year available).

Growth rates reported here are average annual rates over that four-year period (2019-2023) in the county.

Henry County:

• Real estate and rental and leasing (6.7%)
• Arts, entertainment, and recreation (6.1%)
• Professional and business services (6.0%)

Mercer County:

• Arts, entertainment, and recreation (17.3%)
• Nondurable goods manufacturing (6.6%)
• Information (6.5%)

Rock Island County:

• Wholesale trade (19.1%)
• Information (4.2%)
• Health care and social assistance (2.7%)

Clinton County:

• Management of companies and enterprises (25.0%)
• Information (8.3%)

Muscatine County:

• Arts, entertainment, and recreation (3.4%)
• Other services (except government and government enterprises) (2.7%)
• Professional, scientific, and technical services (2.3%)

Scott County:

• Management of companies and enterprises (20.8%)
• Arts, entertainment, and recreation (7.7%)
• Real estate and rental and leasing (5.3%)

Arts, entertainment, and recreation is one of the fastest growing sectors in four of our six counties. This is notable as the sector experienced a significant contraction at various times in the last two decades but is now seeing a solid recovery.

Sectors related to management and professional services and the information sector were represented in some form in each of the six counties. These sectors feature well-paying jobs requiring education beyond high school.

Overall, these sectors represent as much as 10 to 20% of the local economy and showcase the diversity of economic activity in the Quad Cities.

Next week: Local employment report