A majority of corporate executives expect the U.S. economy to slide into a recession within the next year as they confront painfully high inflation and a labor shortage.
National Association of Home Builders CEO Jerry Howard pointed to the NAHB/Wells Fargo Housing Market Index declining for eight consecutive months, as well as the fact that it reached below the 'neutral' level, as indicating sentiment is 'sinking.'
Findings published by Stifel Financial show that 18% of corporate executives, business owners and private equity investors believe theand is in a recession. That compares to about 79% of whom expect a downturn within the next 18 months. "Given the uncertain backdrop, it’s understandable that companies are planning for a potential prolonged downturn and are considering various economic scenarios, as well as their approach to strategic planning over the next year," said Michael Kollender, head of consumer, retail and diversified industrials investment banking at Stifel. "Market conditions and economic cycles often turn quickly.
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