A recent Reuters poll reveals that 45% of Americans expect a recession within the next year, coinciding with signs of economic decline. The National Bureau of Economic Research may soon confirm this downturn, defined as a significant decline in activity. Key indicators include a three-month drop in consumer confidence, rising unemployment rates, a contracting GDP projection from the Atlanta Fed, and a downward trend in housing markets across major cities. Additionally, increasing credit delinquency rates point to financial strain among consumers, complicating their ability to spend and support GDP growth.
The National Bureau of Economic Research may soon declare a recession, as 45% of Americans foresee one happening within the next year.
The economy added 228,000 workers despite the rising unemployment rate of 4.2%, with significant numbers of long-term job seekers struggling.
With the Federal Reserve's tightening and rising delinquency rates, consumers are increasingly unable to manage their debts, impacting overall GDP.
The real estate market is declining, with home prices falling in major cities for the first time in years, reflecting broader economic hardship.
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