Maybe Mass isn't heading for a recession after all?

Larry Edelman, business reporter for the Boston Globe recently wrote an article in his weekly newsletter opining that perhaps the news isn't all bad for the New England economy.He did a deep dive into the Fed's "Beige Book", which details housing and employment info and found nothing but stability. Retail prices rose modestly, retail sales were steady, commercial real estate was unchanged. The outlook, per the Fed, was "mostly positive". The one note of caution was on lending. There are worries that banks in New England will curtail lending after what happened in Silicon Valley and Switzerland. The market did take a pause in Q1 2023 as lending abated.