Majority Of States In A Recession, Up From 5 In March

How does yours stack up? (If you’re reading this at home you might already know the answer.)

ABC News: Back in March, Mark Zandi, chief economist and co-founder of Moody’s Economy.com, said that only five states were in recession: Arizona, California, Florida, Michigan and Nevada.

Now, he said that 27 states are in recession and another 14 are near recession.

“The job market has eroded measurably and industrial production has weakened sharply in the last couple of months. Those are the two key things. The other thing is that retail sales have also sharply weakened,” Zandi said.

The one bright side is part of the middle of the country. Agriculture and energy are still strong and providing jobs

 

Illustration From ABC News

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