US economy proves strong enough ‘to keep recession at bay'
Despite two consecutive quarters of decline, the U.S. economy still does not appear to be in a recession and remains unlikely to enter one this year, National Retail Federation chief economist Jack Kleinhenz said on Tuesday.
Kleinhenz noted that while back-to-back contractions have heightened fear of a recession and the economy has lost momentum heading into the second half of the year, economic data is not yet consistent with a typical recession.
“Our view is that while the economy is functioning at a slower pace it is likely to avoid a recession this year,” he said. “Despite ongoing uncertainties, we believe the underlying strength of the economy is strong enough to deal with inflation and keep a recession at bay – or short-lived even if we are wrong.”
Related news
K&H: recession fears among large companies
The K&H corporate growth index, which indicates companies’ expectations, remained…
Read more >Restaurants in the western part of the country (also) close one after another
Many restaurants in Western Hungary have still not been able…
Read more >Resilience, refinancing and recession risk – this is expected in the fourth quarter
Markets have so far proved resilient to the prospect of…
Read more >Related news
Seven trends shaping in-store marketing and retail design in 2024
Smart brands know that in-store marketing and store design can…
Read more >2024 is a year of challenges for the tobacco industry and retail
Annual tobacco retail sales are expected to have increased in…
Read more >The latest issue of Trade magazine is out now!
The digital version is available with more content once again,…
Read more >