Bad News: Bankrate Survey Shows 3-in-5 Chance of U.S. Recession
A recently published survey by Bankrate reveals that there is a 3-in-5 likelihood of a recession occurring in the United States within the next year. Bankrate’s survey of economists firmly indicates that the chances of a recession taking place in the U.S. are greater than the chances of it not happening.
- Economists estimate a 59% chance of a recession by July 2024
- 78% of respondents believe the chances of a recession are greater than 1-in-2
- ITR Economics and HSBC Asset Management also predict an impending recession
- Factors contributing to the prediction include increased interest rates and strict monetary policy
- Statista projects a 70.85% chance of recession by May 2024
It seems like the experts agree, and the outlook for the U.S. economy is not looking so bright. With economists estimating a 59% chance of a recession within the next year, and other reputable sources making similar predictions, it’s time to start preparing for the storm. Factors such as increased interest rates and strict monetary policies are contributing to this gloomy forecast. So, buckle up and brace yourself for what could be a bumpy ride ahead.
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