A majority of the nation's business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.
A potential buyer looks over a 2023 Cooper S sedan on the floor of a Mini dealership Friday, Feb. 17, 2023, in Highlands Ranch, Colo. Over the past year, the Fed has raised its key short-term rate eight times, causing many kinds of consumer and business loans, including auto loans, to become more expensive.
A potential buyer looks over a 2023 Cooper S sedan on the floor of a Mini dealership Friday, Feb. 17, 2023, in Highlands Ranch, Colo. Over the past year, the Fed has raised its key short-term rate eight times, causing many kinds of consumer and business loans, including auto loans, to become more expensive.
WASHINGTON — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed toFifty-eight percent of 48 economists who responded to a survey by the National Association for Business Economics envision a recession sometime this year, the same proportion who said so in the NABE’s survey in December.
The findings, reflecting a survey of economists from businesses, trade associations and academia, were released Monday. A third of the economists who responded to the survey now expect a recession to begin in the April-June quarter. One-fifth think it will start in the July-September quarter.The delay in the economists’ expectations of when a downturn will begin follows a series of government reports that have pointed to a still-robust economy even after the Federal Reserve has raised interest rates eight times in a strenuous effort to slow growth and curb high inflation.
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