The prospects for the US economy have dimmed significantly as fears of a recession, termed a "Trumpcession," rise amidst falling business and consumer confidence. Analysts suggest that President Trump's unpredictable policies, particularly regarding tariffs, are contributing to economic uncertainty. While most economists believe a recession can be avoided, warnings are mounting as the Atlanta Federal Reserve forecasts a potential 2% contraction in GDP for the first quarter, influenced by a soaring trade deficit driven by record import volumes. This trend reflects businesses' attempts to mitigate impacts from impending tariffs.
Fears of a US recession this year are growing, in what is being called a Trumpcession, as analysts point to declining business and consumer confidence.
Despite fears, most economists believe a recession can be avoided, though signs indicate challenges are arising within the president's first 100 days.
The Atlanta Fed's GDPNow indicates a potential contraction of 2% in GDP for the first quarter, heavily influenced by the soaring trade deficit.
The significant rise in the US goods trade gap to $153.3bn in January is largely due to increased import volumes as businesses prepare for tariffs.
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