It is no shocker, but a respected Wall Street ratings service claims that Toledo, most of Ohio, and all but one metro area in Michigan are in a recession, and have been for a while.
The analysis by Moody's Economy.com is based on statewide industrial production and local employment reporting. It found that Columbus, Akron, and Steubenville, Ohio, and Benton Harbor, Mich., are the only places in the two former industrial powerhouse states that aren't shedding jobs right now.
The study found that the broad U.S. economy appears to have escaped recession, but 170 metropolitan areas are in it. Nationally, though, the business cycle is framed by the downturns in the housing, banking, and finance sectors.
http://toledoblade.com/apps/pbcs.dll/article?AID=/20080813/BUSINESS06/80...
