The U.S. economy is still managing to avoid a recession, but just barely, with its fate likely resting on California and New York, according to Moody’s Analytics chief economist Mark Zandi.
In social media posts on Wednesday, he reiterated his warning that states representing nearly one-third of nationwide GDP are already in a recession or at high risk of one. Another third is “treading water,” while the rest are still growing but suffering from less momentum.
