Credit Suisse has a word to describe this sluggish economy — a 'semi-recession.'
The firm said weak manufacturing data accompanied by healthy economic data elsewhere lands the economy in a middle ground.
Credit Suisse said weak manufacturing data accompanied by healthy economic data elsewhere lands the economy in a middle ground. . Manufacturing, which accounts for about 11% of the U.S. economy, is being hurt by the trade war between the United States and China and slowing global economic growth. The 0.6% increase in industrial production in August was the largest gain in industrial output since August 2018 and followed a 0.1% dip in July, according to the Federal Reserve.
"Recessionary risks are clearly rising," said Golub. "Absent a reacceleration in cyclical data, stock upside appears limited," he said.
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