Monday, February 6, 2023

Businesses see US less likely to enter recession – NABE

Jan 23 – The probability that the United States is either already in recession or slipping into recession this year has dropped from nearly two-thirds to 56% over the past three months, according to a Business Situation survey released Monday.

About 53% of those surveyed by the National Association of Business Economics (Will not done3% said they expected above average that the United States would enter a recession in the next 12 months, while 3% indicated they thought the country was already in a recession.

in the last survey Will not donePublished in October, 64% of those polled indicated that the US economy was either already in a recession or had a more than equal chance of entering one in the next 12 months.

has a total of 60 members Will not done Those who work for private sector companies or industry associations responded to the latest survey conducted January 4-11.

The survey also showed respondents expect inflation to ease across their businesses and industries, with the forward-looking gauge of prices falling 10 percentage points from the previous survey to its lowest reading since October 2020.

The Federal Reserve is expected to raise interest rates by a quarter percentage point at its Jan. 31-Feb. 1 policy meeting as it nears a stalemate in its rate hikes now that high inflation is on the decline.

The US central bank last year raised rates at the fastest pace since the 1980s, hitting a 40-year high in an effort to tame inflation. Inflation, the Federal Reserve’s preferred measure, remains nearly three times the central bank’s 2% target.

The latest economic data show that inflation continues to decline and that consumer and producer prices, profits and wages are rising at a slower pace, raising hopes that inflation can be brought under control without triggering a recession.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news