Very little can be found of late to stoke the fires of economic optimism. Indeed, given the latest developments, it’s hard to figure out how an already-underperforming economy can possibly avoid recession.
A survey released on Monday form the National Association for Business Economics confirms this grim outlook among many economists.
As noted in an AP report, “Close to 69 percent of the economists think the economy has started or will enter a recession this year. That's up from 56 percent in a survey in May.”
The report added: “‘The general view is .... that this recession will be longer than the last two — lasting roughly one year, but relatively mild,’ the survey concluded.”
Keep in mind, however, that the survey was taken between September 8 and September 19, with supplemental questions answered on October 1-2. So, these economist might be even gloomier today.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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