Planning Briefs
The Conference Board Predicts Short, Mild Recession For First Half Of 2024
Published Thursday, October 12, 2023 at: 8:03 AM EDT
A mild recession will begin in the first quarter of 2024 and end in the second quarter, economists at The Conference Board (TCB), a think-tank for the world’s largest companies predicted Wednesday.
The big business group’s economics team expects an interest rate hike before the end of 2023, followed by two negative quarters of -1% and -0.7% before the Federal Reserve loosens credit and lowers the cost of borrowing.
“We see a lot of headwinds on the horizon,” Erik Lundh, principal economist at TCB said. “Spending activity towards the end of 2023 and into early 2024 is going to be pulled back. On an inflation-adjusted basis spending is not being underpinned by personal income growth and real personal income growth.”
©2023 Advisor Products Inc. All Rights Reserved.
More articles
- Strategic Investing Amid The Hot Labor Market
- The Coming Reversal of Tax Cuts and Jobs Act Will Be a Financial Setback for America’s High-Income-Earners and High Net-Worth Individuals
- What The Federal Reserve Decided Today
- Five Tips For Grandparents Caring For Infants
- Medicare Spending Threat Receded But The Practical Impact On Tax Planning Is Limited
- What To Know About Converting To Roth IRAs
- 2023 Year-End Tax Planning, Part 1
- A $5 Million Nest Egg Does Not Buy A Fulfilling Retirement
- Defining And Achieving What Floats Your Boat
- The Silver Linings Playbook For Cryptocurrency Losses
- Test Your Investment IQ
- Consensus Forecast Of Economists Improved Significantly In Past Three Months
- The Future Is Bleak, As Usual
- This Is How Bull Markets Always Are A Surprise
- Investment Implications of a Diminished Russia