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Published: Friday, 5/2/2003

NW Ohio economy slumped in 1st quarter

Northwest Ohio's economy slumped in the first quarter as an index of leading economic indicators dropped more than 5 percent to a level not seen since the early 1990s.

The Toledo index stood at 96 percent as weak signals of recovery displayed in the last year have failed to take hold, Paul Kozlowski, University of Toledo professor of finance and business economics, said yesterday in a quarterly report on local business conditions.

The only favorable index component was initial claims for unemployment insurance, which dropped slightly. Though they have been down for the last three quarters, they remain relatively higher, Mr. Kozlowski noted.

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