The Inland Empire expansion came to a halt in the first quarter, as a result of the coronavirus pandemic. According to data from UC Riverside School of Business Center for Economic Forecasting and Development, local GDP fell .2% in the first quarter with expectations that the second quarter will look far worse. The Inland Empire has seen consistent growth since early 2012.

Healthcare spending drove the decrease in GDP in the first quarter, both nationally and for the Inland Empire. In anticipation of a surge COVID-19 patients and limited capacity, hospitals across the county delayed many non-essential procedures. “Delaying procedures that were not COVID-19 related really had an impact in terms of the total GDP numbers, even though it was only two weeks. Healthcare is such a big part of the economy, the shift in the consumption really put a dent in the nation and in the Inland Empire,” Adam Fowler, director of research at the Center for Forecasting, tells GlobeSt.com.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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