Majority of States Now in Recession

What started out as a housing problem in a few states has now exploded into a full-fledged recession with a majority of states now in or dangerously close to recession.

US State Recession map

What started as a recession in just a few states has now spread to 27 with another 14 states near recession, according to Mark Zandi, chief economist and co-founder of Moody’s Economy.com.

(ABC News Photo Illustration)
More Photos

Just this weekend, President Bush’s top economic advisor used the much-avoided word “recession” to describe the economies in some states.

“We are seeing what I think anyone would characterize as a recession in certain parts of the country,” Edward P. Lazear, chairman of the Council of Economic Advisers, said on CNN’s “Late Edition.”

How Is the Economy Treating You? Tell 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.

Read more

About these ads

2 thoughts on “Majority of States Now in Recession

  1. Pingback: Conspirama

  2. Pingback: Wakahuia » Majority of States Now in Recession

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s