Economy

Link to nola.com What happened to Louisiana’s economy? New data shows big slump. (opens in new window)

Data from the first quarter of the year has UL economist Gary Wagner forecasting a bad situation getting worse for Louisiana’s economy: 

The state’s real gross domestic product fell by 4.3% on an annualized basis in the first quarter of this year, almost three times steeper than the U.S. economy. Only five other states posted a sharper contraction.

“It’s probably hard to imagine a report that’s worse right now,” said Gary Wagner, an economist at the University of Louisiana at Lafayette, who found declines in almost every state and many industries. “I think there’s a 50-50 chance we’re in a recession.”

Source: nola.com