A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.
A potential buyer looks over a 2023 Cooper S sedan on the floor of a Mini dealership, Feb. 17, 2023, in Highlands Ranch, Colo.
Fifty-eight percent of 48 economists who responded to a survey by the National Association for Business Economics envision a recession sometime this year, the same proportion who said so in the NABE’s survey in December. But only a quarter think a recession will have begun by the end of March, only half the proportion who had thought so in December.The findings, reflecting a survey of economists from businesses, trade associations and academia, were released Monday.
In January, employers added more than a half-million jobs, and the unemployment rate reached 3.4%, the lowest level since 1969.
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