Business Owners and Executives Say Recession Is Here or Will Be Soon

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Photo of Andrew Jackson on a $20 bill is shown, Jan. 28, 2022, in Cleveland. Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. Home sales are down, and mortgage rates are up. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now, even the more pessimistic economists don’t foresee any imminent downturn, at least not before next year. (AP Photo/Tony Dejak)
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A survey by Stifel investment bank shows a whopping 18% of executives, business owners, and investors say we are already in a recession, and 79% of U.S. executives say they expect an economic downturn over the next 18 months.

With inflation at a 40-year high, the survey shows that 89% of respondents are very concerned or moderately concerned about inflation’s impact on their business in the foreseeable future. Interestingly, 81% of executives say they are passing on rising costs to consumers over absorbing them.

The survey also shows that the labor shortage is impacting the business sector; 64% said that labor constraints posed the highest risk to their company, followed by inflation (59%) and then recession (54%).

The concerns of business owners and executives are important to look at when evaluating the overall health of the economy because they are the major drivers on both main street and Wall Street.


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