February coincident indices from the Philadelphia Fed are out. Time to re-evaluate this assessment from slightly over a year ago in Political Calculations that California was in recession.
Going by these [household survey based labor market] measures, it would appear that recession has arrived in California, which is partially borne out by state level GDP data from the U.S. Bureau of Economic Analysis. [text as accessed on 12/27/2017]
The release provides an opportunity to revisit this question (the Q3 GDP figures are discussed here). It’s (still) unlikely that a recession occurred.