There's 'a very real risk' the national economy will skid into a recession in late 2020 after the current expansion that began a decade ago, the UCLA Anderson Forecast announced Wednesday.
There's"a very real risk" the national economy will slide into a recession in late 2020 as the presidential election heads into high gear, ending the current expansion that began a decade ago, according to UCLA forecasters.
"A year ago we were looking forward to a synchronized global expansion; today we are starting a synchronized slowdown," wrote David Shulman, a senior economist at the UCLA Anderson Forecast."The U.S. economy is part and parcel with the global slowdown, an eventuality we have been forecasting for over a year."
Despite the grim 2020 outlook, the forecast sees the national economy staging"a modest rebound" during 2021. For one, it said there's the current phenomenon known as the inverted yield curve that"seems like a very reliable indicator of a recession to come within a year."
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