updated 11/12/2010 1:44:03 PM ET 2010-11-12T18:44:03

An economics analyst says Arizona's economy is at risk of falling back into recession.

Chris Lafakis of Moody's Analytics cites continued weakness in consumer spending and the still-troubled housing market.

According to Moody's Analytics, seven other states remain in recession and one — North Dakota — has an expanding economy. The rest are deemed to be recovering.

Lafakis says reasons for optimism nationally include aggressiveness by the Federal Reserve, strong corporate balance sheets, paying down of household debt and pent-up demand for autos and housing.

Lafakis spoke to a journalism conference in Phoenix on Friday.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com