Mixed Economic Signals Across US States as Some See Growth, Others Decline
• 16 US states saw economic contraction between July & October per Philadelphia Fed data, even as most economists don't forecast recession • West Virginia, Wisconsin, and Montana saw over 1% declines; MD, ND, & SC saw over 1% growth • Among top 10 GDP states, 7 (CA, TX, FL, PA, OH, GA, NC) saw growth per 3-month data • 27 states saw monthly economic contraction recently, just 16 grew • Experts divided on whether US will enter recession in 2023/2024 - some see likely recession, others expect just slowdown