MSN, citing the Balmer Sun, Maryland at ‘high risk’ of recession, Moody’s top economist warns
Maryland is among 21 states and Washington, D.C., that are either already in or are at a “high risk” of a recession, according to a warning this week from the chief economist at the credit-rating agency that recently downgraded Maryland’s bond rating.Of course yesterday's economic report, 3.3% growth, and 2% inflation, would seen to contradict that.
The U.S. economy as a whole is “on the edge of recession” as a result of such a large number of states trending downward, Moody’s Mark Zandi wrote on social media Sunday.
“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,” Zandi wrote.
Moody’s is one of the top three credit-rating agencies and the only one that downgraded Maryland’s AAA bond rating this year. It said Maryland maintained a “stable” outlook but that its rating should take a hit because of economic underperformance and the higher-than-average impact from President Donald Trump’s decisions in the White House.
In his update Sunday, Zandi pointed to “the broader DC area” in particular because of Trump’s moves to slash the federal workforce — with Virginia, West Virginia and Washington, D.C., joining the list with Maryland.
Other states that represent a similar or larger share of country’s GDP as Maryland — which Zandi noted as 1.86% — that are in or heading toward recession include New Jersey, Massachusetts, Connecticut, Illinois, Minnesota, Washington, Georgia and Oregon. California and New York, two of the three largest state economies, are “treading water” while states like Texas, Florida and Pennsylvania are expanding, according to Zandi’s analysis.
I think I'm seeing a pattern here.
And, only tangentially related, from the College Fix, U. Maryland abortion program aims to recruit ‘providers of color,’ raising legal red flags.
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