Recession More Obvious in Some Parts of US Than Others

This article in the Economist points out the disparity of economic circumstances across the nation. The local and state economies are stronger in the heartland and Northern Rockies, while coastal areas, parts of the South and Midwest, and the Northeast urban corridor are feeling the bite more. The agricultural and traditional nature of the economy in those areas still doing comparatively better probably explains in some part why the recession is slower to occur in those locales. A huge factor in this new recession is the effect foreclosures and falling home values are having on local and state economies, primarily in metropolitan and suburban areas. Studies of past economic downturns usually show pockets of the nation that do not fall into recession, or do not stay in recession as other places. The two states at either end of the economic extremes are Montana and Michigan. Other states doing well include most states in the Northern Rockies, Northern and Central Plains, and the Central Atlantic region. Those doing poorly include most in the Mississippi and Ohio valleys, the Southern Atlantic Coast, and those in the Pacific Time Zone.

http://www.economist.com/world/na/displaystory.cfm?story_id=10650727

*****