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Since economists already have trouble identifying recessions at the national level, knowing whether a state is in a downturn or not is even more tricky. The Philadelphia Fed has a measure that can help identify state business cycles.
What is a recession?
Contrary to conventional wisdom, a recession in the U.S. is not defined by two consecutive quarters of negative GDP growth.
The NBER business cycle committee determines whether the U.S. economy is in a recession or not. They look at six different economic indicators that include two measures of employment growth, household income, personal consumption, retail sales, and industrial
