The Midwest has a longstanding reputation as an ugly duckling during national economic slowdowns. This reputation was acquired and richly deserved as a result of the region's performance in the 1970, 1973-75, 1980 and 1981-82 recessions. During these episodes manufacturing activity, housing, retail sales and employment all posted sharply greater declines in the Midwest than the national average.
On This PageApril 1995, No. 92
The Midwest Economy: Still a Swan
Last Updated: 03/16/95