The Federal Reserve Bank of Philadelphia put out its prediction of the economic health of all 50 states and DC. Only three states face harsh prospects according to the branch of the central bank–Rhode Island, Louisiana, and New Mexico. The state with the best prospects is West Virginia. What the survey does not say is the extent to which states which have suffered the most in the recession are likely to rebound to some extent because their prospects were so badly crushed. That may be why Michigan, Florida, and California make the list.
The study did not get into the issues of what the after effects of the drop in the housing market may be, or those of long term unemployment. Also not mentioned is the extent to which states with no growth or slow growth may moved into “local recession”
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