Stock investors fret about a 2023 recession: How severe and how long will it be?
With the U.S. stock market on track for its biggest annual decline in over a decade, fears that efforts by the Federal Reserve and other major central banks to bring down a surge in inflation will spark a major economic slowdown have moved front and center as the calendar flips to 2023.A shallow and brief recession Many analysts think the economy has enough inertia to grow slowly at least through the first half of 2023.
However, job growth is expected to slow in 2023 as higher interest rates crimp investment and as more industries fully recover their prepandemic head count, but according to Julia Pollak, chief economist at ZipRecruiter, this kind of “substantial cooling” in labor market conditions will be far from recessionary.
He attributed the economic resilience to the “healthy balance sheets” of individuals and households, which accumulated “abundance of savings” during the pandemic. The good news is that a prolonged period of economic swampiness should snuff out inflation and force the Federal Reserve to reverse a significant part of their 2022 monetary tightening, wrote Kelly in a November note.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trim Pickings: 2023 Nissan Rogue vs. 2023 Toyota RAV4The base models of the Nissan Rogue S and Toyota RAV4 LE are priced within $255 of each other, making for very close competition. Both of these models are well equipped with feature highlights that include LED headlights, tinted rear windows, cloth upholstery, satellite radio, and Apple CarPlay and Android Auto compatibility. On the safety front, both SUVs include a forward collision warning with automatic emergency braking system and automatic high-beam headlights.
Read more »
Is Texas immune if the rest of the nation goes into a recession in 2023?🔮 Texas, one of the big winners of the pandemic economy, doesn’t appear to have special immunity from broader economic threats as 2023 begins. 2023biz 2023forecast 2023DMNforecast
Read more »
The top 10 recession-proof jobs for 2023Despite the looming risk of a recession, not all jobs are vulnerable to a possible downturn, according to a new report from Payscale.
Read more »
Will California’s economy ‘bowl’ over into a 2023 recession?In the summer quarter, California’s gross domestic product was growing at a 3.8% annual rate, 12th best among the states. That’s a reversal from the spring’s 0.5% drop.
Read more »
Here's what could tip the global economy into recession in 2023 | CNN BusinessThe global economy has endured a tough year, with decades-high inflation sapping post-lockdown spending and pushing central banks to hike borrowing costs at an unprecedented clip to bring it under control.
Read more »
Top stock picks, killer brands and ‘TikTokification’: what’s ahead for retail in 2023TikTok will continue to influence retail in 2023 as new consumers are obsessed with short-form video engagement and music and cultural relevance meets retail, Cowen analyst Oliver Chen wrote in a note.
Read more »