Recession ends in 79 metros, index shows

[sabra]

Source: MSNBC

One in five areas turned upward in Aug., based on latest msnbc.com figures

The recession finally ended in August in one out of every five metro areas in the United States, especially in the Midwest and Great Plains, according to the latest Adversity Index from Moody's Economy.com and msnbc.com.

This is the first month this year when any metro area has moved from recession into the "recovery" category, indicating that the economy grew from six months earlier. Out of 384 metro areas in the nation, 79 are in recovery, according to the August data on jobs, manufacturing and housing. Another 270 areas have a "moderating recession," meaning their economies were not contracting as severely as earlier. That leaves 35 metro areas in a full-blown recession.

"The initial recovery is going to be slow," said economist Andrew Gledhill of Moody's Economy.com. Jobs are still being lost, but in terms of manufacturing production, "the economy is finally beginning to emerge from the cellar."

Among the 79 recovering areas is Elkhart, Ind., where msnbc.com has been reporting on the nation's struggles through the lens of the Indiana city. You can read Elkhart reaction to this economic news in our Elkhart Project blog.

Read more: http://www.msnbc.msn.com/id/33312701/ns/business-eye_on_the_economy/

[xchrom]

1. until we stop shipping jobs off shore

and regulate wall street and the banks -- we are in severe jeopardy.

[OhioChick]

2. Damn Straight. n/t

[gratuitous]

3. Good news, and less good news

One in five metro areas isn't really "turning it around," but it's good to see, and economic recovery has to start with something. But just because a recession is "officially" over doesn't mean it's Let the Good Times Roll. At least not yet.

We're on a righter track, and the nation is recovering. We got knocked down so far from the last decade of Republican misrule, however, that it's going to take some time before this makes a real difference in the lives of most Americans.

[Uben]

4. The "Good Ole Days" are back!

Isn't it wonderful? Rejoice. Buy! Spend! Borrow more money!
















/Is it really necessary?

[Downwinder]

5. Typical MSNBC garbage.

You are not through the canyon until you reach level ground on the other side, or over the mountain until you get down.