Two Thirds of Polled Economists Say , We're Headed For a Recession in 2023.
'Forbes' reports that two-thirds of 49 economists polled in a recent survey think the U.S. economy will be in recession in 2023.
The poll was conducted by the 'Financial Times' and the University of Chicago.
It was conducted during the first days of June and reported on June 13.
In order for the U.S. economy to officially be in recession.
... the National Bureau of Economic Research (NBER) must recognize a substantial decline.
This decline must be identified over the course of at least two fiscal quarters.
During the first quarter of 2022.
... the U.S. gross domestic product (GDP) contracted by 1.5 percent.
Of the 49 economists polled, almost 70 percent agreed that the NBER will make this determination in 2023.
One economist predicted that the NBER will make the determination in 2022.
30 percent of those polled think a recession will be called in 2024.
In September, the Bureau of Economic Analysis will release its report on the second quarter of 2022.
To mitigate the effects and extent of the recession, economists cited high consumer spending ... .
... and a robust housing market
