Iron ore shipments show last year’s economic whiplash

The Duluth News Tribune reports today that December 2008 iron ore shipments out of the port of Duluth were down 42 percent from December 2007. This story shows the economic whiplash the Iron Range has seen in the last few months. Even though December was way down the boom of early 2008 was so big that the year hugely outperformed the five year average. 2009 could be an even starker statistical mess when the slowdown is properly represented.

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