Is the Seattle Area in a Recession?

Not according to this graph from USA Today.

The article reports that Washington State is a leader in exports, which is helping our State stave off recession.   Even though our State seems to be fairing well as compared to other economies, it’s important to keep in mind:

"Businesses and consumers not in areas most affected by the housing boom and bust are not escaping the effects of the housing slump entirely. That’s because in the fallout from the subprime mortgage mess, banks have tightened lending standards for a variety of loans, no matter where the borrower is."

Hat tip to Transparent Real Estate