Adversity Index: Iowa, Des Moines, in recovery mode
Des Moines is one of 100 metro areas that have started to recover from the recession, according to the latest Adversity Index from Moody’s Economy.com cited in a MSNBC.com report.
The data from September shows that 100 metro areas across the country, or more than one in four, are recovering. That’s up from the 79 metro areas that were recovering in August.
The Adversity Index uses government data on housing starts, home prices, industrial production and employment to label each state and metro area as expanding, at risk of recession, in recession or recovering.
Of the 384 metro areas in the nation, 278 are in a moderating recession, which means their economies are shrinking, but not as badly as earlier this year, and six are in a downward recession.
None of the recovering metro areas are in California or Florida, and many of the metro cities that are recovering are not the main drivers of the economy.
As a whole, Iowa is one of 11 states – and Washington, D.C. — that are in recovery mode. Ames, Council Bluffs, Sioux City, Cedar Rapids, Davenport-Moline-Rock Island, Des Moines and Iowa City are the metro areas in Iowa that are in recovery mode. Waterloo-Cedar Falls, and Dubuque are the only two metro areas in recession.
See a map that shows year-over-year changes of the four categories that define the Adversity Index in each metro area in all 50 states.