States accounting for nearly a third of U.S. GDP are in recession or at high risk, another third are treading water, and the remaining third are expanding. Recessions are geographically spread, with the broader D.C. area weakened by government job cuts. Southern states remain the strongest regionally, though their growth is decelerating. California and New York together account for over a fifth of U.S. GDP and are currently stable, making their performance pivotal to avoiding a national downturn. The Atlanta Fed GDP tracker indicates nationwide growth slowing to about 2.3% in Q3 from 3% in Q2.
States experiencing recessions are spread across the country, but the broader DC area stands out due to government job cuts,
Southern states are generally the strongest, but their growth is slowing. California and New York, which together account for over a fifth of U.S. GDP, are holding their own, and their stability is crucial for the national economy to avoid a downturn.
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