Moody’s Estimates One-Third of US States May Already Be in Recession
Analysis using NBER-style methodology identifies states including New Jersey, Illinois, Virginia, Georgia, Washington, and Iowa as potentially experiencing economic downturns.
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Terms & Concepts
Recession: A significant decline in economic activity across the economy, lasting more than a few months, typically visible in GDP, income, employment, and industrial production.
National Bureau of Economic Research (NBER): A private non-profit research organization that is widely recognized for officially determining recession dates in the United States.