Cincinnati economy is one of strongest in the US

CINCINNATI - One more thing for the Queen City to be proud of: A strong economy.

Cincinnati's economy was rated as one of the strongest on a list of major U.S. metropolitan economy indices.

The On Numbers Economic Index, which measures the economic health of 102 metropolitan areas, rated Cincinnati as 15th strongest with a score of 67.65.

The index is generated by an 18-part formula that assess private-sector growth, unemployment, earnings, housing-price appreciation and construction and retail activity.

Oklahoma City had the strongest economy, with a score of 91.04. Austin, Texas, Omaha, Neb. and Pittsburgh rounded out the top four in the U.S., according to the index.

Cincinnati's short-term score was much better than its long-term score on the index. One-year private-sector job growth was up nearly 3.4 percent, compared to five-year private-sector job growth decline of more than 2.2 percent.

Cincinnati's gained points thanks to its unemployment rate that is lower than the national average at 7.2 percent, and its consistent earnings growth in both the short term and long-term.

But Cincinnati's declining five-year housing appreciation set it back from being any stronger of an economy, with a decline of 8.72 percent. More recently, that decline has turned around, but only slightly, with an appreciation increase of .24 percent in the past year.

Other cities near the Tri-State finished high on the list: Columbus, Ohio was rated as 7th strongest on the index, Louisville, Ky. was rated 18th, Indianapolis was 29th, Akron, Ohio was 28th, Toledo, Ohio was 34th, Cleveland was rated 50th, Youngstown, Ohio was ranked 74th and Dayton, Ohio was 80th,

For the full ranking of cities and more on the On Numbers Economic Index,go to http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2012/09/oklahoma-city-leads-heartlands-sweep.html?appSession=123101068611228 .