Summary
Missouri's economy tends to contract and expand at about the same rate as the national economy. It is, therefore, noteworthy that since the last business cycle peak in March 2001, the Missouri economy experienced a deeper recession than did the nation. Still, the Missouri economy has recently grown at a faster pace. The end result is that after an over three-year deviation, Missouri's economy is again in line with the national economy. Income growth is one indicator that Missouri's economy is improving faster than the national economy. Personal income grew 1.7% in the second quarter of 2004. At an annualized rate, the second-quarter performance translates into a 6.9% growth rate.
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Extract
The Missouri Economy: An Overview
Missouri is frequently cited as being a bellwether state both politically and economically. Historically, business cycles in Missouri have tracked the national cycle in two important ways. First, business cycle fluctuations in Missouri are synchronized with business cycles at the national level. second...
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