The worsening economy in Maryland was confirmed in a third-quarter report by Grant Thornton, a national accounting and management-consulting firm with a local office.
The Grant Thornton Index, consisting of seven equally weighted economic indicators, declined 0.23 for Baltimore in the July-September period, hitting 109.1. For Washington, the index dropped 0.90 to 109.9. This is the third quarterly decline for Baltimore since the end of 1989, when the index was at 110.2.
The index includes factory hours, nonfarm employment, construction permits, retail sales, business starts, business failures and money supply. The base for the index is January 1985.