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"economic condition" is a correct and usable phrase in written English.
You can use it to refer to the state of an economy, such as when discussing the effects of a financial crisis on a country's economic condition. For example, "Recent economic sanctions caused a dramatic decrease in the country's economic condition."
Exact(60)
The economic condition of Chongyi County is representative of economically less-developed rural areas.
Egypt is in dire economic condition.
Poverty is not just an economic condition.
It's a naturally occurring economic condition.
I've never seen an economic condition as bad as this".
The auto industry, in poor economic condition, resisted this change.
Greece's dire economic condition can hardly be overstated.
The current economic condition is one factor that has propelled it.
The economic condition of the UK can be simply put: it's mayhem out there.
But others said the estimates jibed with other recent data on the city's economic condition.
Social or economic condition -- poor or rich -- cannot be an excuse for bad behavior.
Related(20)
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economic climate
economic weather
macroeconomic condition
economical condition
economic predicament
economic term
economic difficulty
fiscal condition
economic pathology
economic heart
economic government
economic footing
economic fitness
economic trend
economic requirement
economic position
economic status
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com