+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

This map shows how some US states are already in recession

Feb 2, 2016, 23:29 IST

Philly Fed

Overall, the US is growing at a pretty modest pace. But some states aren't doing so well.

Advertisement

As the Philly Fed's latest coincident indexes survey shows, seven states - North Dakota, Alaska, Wyoming, Wisconsin, Illinois, Louisiana, and Mississippi - saw economic activity contract during the three months that ended in December.

It's worth pointing out that North Dakota, Alaska, and Wyoming also saw economic activity contract during the three months that ended in September.

Meanwhile, Michigan and Oklahoma went sideways, while the other 41 states continued to creep upward. But only a handful of states saw growth over 1.0% (aka the dark green ones).

These coincident indexes combine different state-level indicators to give us a picture of economic conditions for that state.

Advertisement

Notably, this data comes amid renewed fears of a recession following lower stocks, lower oil, and a sagging manufacturing sector. (For what it's worth, North Dakota has a big oil sector.)

But, on the bright side, we're doing much better than we were during the darkest days of the recession, when all of those states were flashing red. And we have the history to show it. Every month, the Philly Fed publishes a color-coded map tracking economic activity across the country. Red shows economic contraction, while blue or green show expansion.

The maps start in 2005 when the economy was booming, then got really ugly. We've put them all together below.

Next Article