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Chicago Fed Letter, No. 92, April 1995
The Midwest Economy: Still a Swan

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.



Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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