Majority of US economists expecting recession
Global markets are set for another volatile week, as investors continue to have concerns with the outlook for the United States economy, according to Sky News Business Reporter Edward Boyd.
There are fears America will fall into recession next year, with 70 per cent of the nation’s economists making the grim prediction.
The recession is not expected to be sharp but there will be negative economic growth two quarters in a row.
Consumers are being blamed for the potential recession as there is slower spending in retail shops.
Inflation, which is at a 40-year high, and interest rates are also contributing to the US’ economic downturn.
( Source : Sky News Australia Youtube Channel )
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