Economists See US Recession Odds at 50% or Less in New Survey

(Bloomberg) — A strong majority of business economists now say the odds of the US entering a recession in the next 12 months are 50% or less, according to a National Association for Business Economics survey.

Some 71% of respondents reported such an outlook in results of the poll, published Monday. That marks a sharp turnaround from NABE’s previous survey in April, which showed an almost even split between those forecasting a downturn and those who were not.

More than one in four respondents in the July survey put the chance of a recession in the next year at 25% or less.

Ongoing strength in the labor market and a pullback in key consumer price metrics have helped fuel the shift in sentiment. While economists have in recent months repeatedly altered their forecasts for when a potential recession may begin, the NABE survey results suggest many may now be changing their minds altogether on the inevitability of one.

About the Author: Patriotman

Patriotman currently ekes out a survivalist lifestyle in a suburban northeastern state as best as he can. He has varied experience in political science, public policy, biological sciences, and higher education. Proudly Catholic and an Eagle Scout, he has no military experience and thus offers a relatable perspective for the average suburban prepper who is preparing for troubled times on the horizon with less than ideal teams and in less than ideal locations. Brushbeater Store Page: http://bit.ly/BrushbeaterStore