I’m Mary Walden, with economist MW, welcoming you to the economic perspective. Today’s program looks at the next recession. Mike, even though it ended nine years ago, the Great Recession is still having an impact on people. One way is our interest in anything that might suggest when the next recession will arrive. Are economists giving any forecasts?
- Yes, 2/3’s of a group of members of the National Association of Business Economists recently predicted a recession would begin in 2020
- and 18% said the downturn would start at the end of 2019
- one of their worries was the possibility of a trade war
- however, even without a trade war, it is reasonable to expect a downturn in the economy within the next couple of years
- after time, investment opportunities dry up and businesses and investors need to pause and regroup
- and remember, recessions don’t have to be devastating like the Great Recession
- recessions can be short and mild
- point – expect a retreat sometime, and whether you are a household, business, or government, make sure you have some backup savings
And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.