• Wed. Dec 6th, 2023

Economists Regularly Adjust Their Predictions for an impending Recession.


Nov 21, 2023

As the world continues to grapple with economic uncertainty, the Index of Leading Economic Indicators (ILEI) is being closely watched for signs of an impending recession. In October, the ILEI fell, and The Conference Board has stated that this could indicate a recession on the horizon. However, despite this decline, a recession has not yet occurred.

One reason for this is consumer spending remaining much stronger than anticipated by economists. Justyna Zabinska-La Monica at The Conference Board believes that if a recession does occur early next year, it will likely be short-lived because there has been no significant decline in manufacturing or the housing market.

Meanwhile, U.S. economist Matthew Martin at Oxford Economics is no longer predicting a recession for this month. He still anticipates an increase in unemployment and softening labor conditions but now believes a soft landing is more probable. If economic data continues to surprise him, he may update his forecasts accordingly.

Despite these changes in the economy, Marketplace remains committed to providing accurate and accessible news that keeps people informed about what matters most. To continue doing so, they rely on financial support from listeners like you with small monthly donations making all the difference in keeping them reporting on important topics like economic updates and news from around the world.

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