Tuesday, August 30, 2011

WFC: 12 States Are in Economic Contraction

And Alabama has "likely slipped into a recession."

Mark Vitner and Michael A Brown, senior economists from Wells Fargo, wrote the report. It states that more states are likely to fall into negative territory within the next six months, due to persistent decline in manufacturing jobs.

Joining Alabama are Georgia, South Carolina, North Carolina and Virginia, Michigan, Nevada, Montana, Illinois, Indiana, Vermont, and Alaska.

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1 comment:

Unknown said...

Interestingly, Barron's (8/29/11 edition) reported tax receipts up for all states with the exception of Hawaii, down - 10.1%.


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