Economics

Majority Of Economists Expect Recession In Next Three Years

By Chemical Processing Staff

Feb 26, 2019

While they may not agree on exactly when it will occur, a majority of business economists expect a recession over the next three years, according to the February 2019 NABE (National Association for Business Economics) Economic Policy Survey. The report notes that while only 10% of panelists expect a recession in 2019, 42% say a recession will happen in 2020 and 25% expect one in 2021.

According to the survey, a budget deficit in the U.S. that equals up to 4% of gross domestic product worries a majority of respondents. This is a likely outcome in 2019 as the budget deficit for fiscal 2018 was 3.85% and spending is expected to increase the deficit further, according to NABE.

Read the entire report here.