As of October 30, 2025, approximately 82% of the U.S. population resides in areas currently experiencing an economic recession, marking the highest percentage since 2020. This analysis is derived from the Federal Reserve"s Beige Book, a report published eight times a year that compiles anecdotal information from businesses, economists, and market contacts across the 12 Federal Reserve districts.
The percentage of the population living in recession-affected regions has doubled since the beginning of 2025. Over the past two decades, only the years 2008 and 2020 have seen such a significant share of the country in recession.
Despite the recession, the latest estimate from the Atlanta Federal Reserve indicates a projected real U.S. GDP growth of 3.9% for the third quarter of 2025.
For more information on related economic developments, see recent developments in Hungary"s GDP.
