GettyImages-1236121108 (1) The probability of a 2023 recession has reached 60 percent, up 10 points since September, according to a Bloomberg monthly survey of economists.
The poll was conducted from October 7-12 with 42 experts predicting a recession.
Chief international economist at ING, James Knightley, told Bloomberg the recession is due in part because of President Joe Biden’s inflation.A “significant tightening of financial conditions is a clear headwind to growth and comes at a time when consumer and business confidence is already under immense pressure from the rising cost of living and falling equity, bond and real estate prices,” he said.Many […]
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