Leading economist Mark Zandi has warned that a third of the US is already in or at high risk of going into a recession.
Zandi, chief economist at Moody’s Analytics, revealed that states making up nearly a third of America’s GDP – including Virginia, Connecticut and Delaware – are in dangerous territory.
‘States experiencing recessions are spread across the country, but the broader DC area stands out due to government job cuts,’ Zandi wrote on X.
It comes after President Donald Trump and Elon Musk went on a firing spree earlier this year in an attempt to reduce the cost of the federal workforce.
States representing another third of the economy are holding steady – such as Hawaii, New York and California – and a final third are still growing.
‘Southern states are generally the strongest, but their growth is slowing,’ he explained.
South Carolina, Alabama, Kentucky and Louisiana all made the list of states still growing economically.
‘California and New York, which together account for over a fifth of US GDP, are holding their own, and their stability is crucial for the national economy to avoid a downturn,’ Zandi added.
Hellbound and Down 