Back to today’s briefing

Story perspectives

21 States Face Recession Risks, Economic Growth Uneven

10/12/2025

47 4

Summary

Story summary

Mark Zandi, Moody's Analytics Chief Economist, says more than 20 states are in recession or at risk.
As of late August, 21 states and the District of Columbia were identified, including Illinois and Georgia.
California and New York were treading water, while Texas and Florida showed economic growth.
Zandi says stabilizing the larger economies is essential to prevent a national downturn, given the shutdown.

1 of 1

Story summary

Mark Zandi, Moody's Analytics Chief Economist, says more than 20 states are in recession or at risk.
As of late August, 21 states and the District of Columbia were identified, including Illinois and Georgia.
California and New York were treading water, while Texas and Florida showed economic growth.
Zandi says stabilizing the larger economies is essential to prevent a national downturn, given the shutdown.