The economies of more than 20 states are either in a recession or are on the brink of slipping into one, according to an analysis by Moody's Analytics Chief Economist Mark Zandi.
Zandi's analysis found that, as of late August, 21 states and the District of Columbia were either in a recession or at high risk of entering a recession. It also found that 13 states were "treading water" while another 15 states' economies are expanding.
"State-level data makes it clear why the U.S. economy is on the edge of recession," Zandi wrote in a post on X. "Based on my assessment of various data, states making up nearly a third of U.S. GDP are either in or at high risk of recession, another third are just holding steady and the remaining third are growing."
"States experiencing recessions are spread across the country, but the broader D.C. area stands out due to government job cuts," he added.