Delaware was making headlines on Wednesday as Moody’s Analytics ranked the state as the only one of the 50 to be at risk of falling into a recession.
The report had previously listed Wisconsin, Illinois and Alabama of being at risk of falling into a recession, according to a Reuters report.
A copy of the report was not immediately available.
The report comes after PNC Financial report that showed Delaware continuing to see a gradual recovery of its economy, although the upturn has been limited by the closing of its two auto plants in 2008 and 2009.
The recovery of the auto industry has helped drive the economic recovery.
Delaware’s unemployment rate has remained at about the national average, but is lower than the figure in a number of states, such as California, which has seen a dramatic upturn in its economic prospects in the past year or so.
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The Reuters report was quickly posted on social media sites by the state Republican Party and the Caesar Rodney Institute as evidence of the mishandling of the economy under the administration of Gov. Jack Markell.
Critics have blamed high energy costs, due to alternative energy programs and a failure to cut taxes as a couple of the reasons for the sluggish recovery in the state.
Recession risk gone in all US states but 1: Moodys Analytics – Economic Times.
