Even with the U.S. economy growing by 3.8% last quarter, and unemployment holding at 4.3%, Moody’s (NYSE:MCO) Analytics said that roughly half of all U.S. states are actually seeing their economies shrink.
Low-Income Households Under Pressure
In an interview with Fortune, Chief Economist Mark Zandi said that 22 states are currently seeing their economies contract, while 16 are growing and 13 are “treading water.”
He pointed out that large states such as California, Texas, and New York, which are major contributors to U.S. GDP, are still growing, helping to keep the nation’s overall economic growth in positive territory.
See Also: Trump’s Immigration Policy Is ‘Adding To Costs And Inflation,’ Warns Moody’s Chief Economist
“Lower-income households are hanging on by their fingertips financially,” Zandi said.
“They’ve got a job, so that’s why they’re still able to spend and …
Full story available on Benzinga.com
Even with the U.S. economy growing by 3.8% last quarter, and unemployment holding at 4.3%, Moody’s (NYSE:MCO) Analytics said that roughly half of all U.S. states are actually seeing their economies shrink.
Low-Income Households Under Pressure
In an interview with Fortune, Chief Economist Mark Zandi said that 22 states are currently seeing their economies contract, while 16 are growing and 13 are “treading water.”
He pointed out that large states such as California, Texas, and New York, which are major contributors to U.S. GDP, are still growing, helping to keep the nation’s overall economic growth in positive territory.
See Also: Trump’s Immigration Policy Is ‘Adding To Costs And Inflation,’ Warns Moody’s Chief Economist
“Lower-income households are hanging on by their fingertips financially,” Zandi said.
“They’ve got a job, so that’s why they’re still able to spend and …
Full story available on Benzinga.com
Even with the U.S. economy growing by 3.8% last quarter, and unemployment holding at 4.3%, Moody’s (NYSE:MCO) Analytics said that roughly half of all U.S. states are actually seeing their economies shrink.
Low-Income Households Under Pressure
In an interview with Fortune, Chief Economist Mark Zandi said that 22 states are currently seeing their economies contract, while 16 are growing and 13 are “treading water.”
He pointed out that large states such as California, Texas, and New York, which are major contributors to U.S. GDP, are still growing, helping to keep the nation’s overall economic growth in positive territory.
See Also: Trump’s Immigration Policy Is ‘Adding To Costs And Inflation,’ Warns Moody’s Chief Economist
“Lower-income households are hanging on by their fingertips financially,” Zandi said.
“They’ve got a job, so that’s why they’re still able to spend and …Full story available on Benzinga.com Read MoreAsia, Donald Trump, JP Morgan, JPM, MCO, Moody’s Analytics, News, Events, Global, Economics, Markets, JPM, US46625H1005, MCO, US6153691059, News, Asia, Events, Global, Economics, Markets, Benzinga Markets
