"A number of indicators are flashing red lights that a recession may be upon us," said Bill Adams, chief economist for Comerica Bank, in a Friday research note.
Friday's figures are separate from the better-known inflation data that comes from the consumer price index. The CPI, which was released earlier this month, has also shown aThe Fed has been seeking to slow spending, growth and the surging prices that have bedeviled the nation for almost two years. Its key rate, which affects many consumer and business loans, is now in a range of 4.25% to 4.5%, up from nearly zero last March.
If consumers remain less willing to boost their spending, companies' profit margins will shrink, and many may cut expenses. That trend could lead eventually to waves of layoffs. Economists at Bank of America have forecast that the economy will grow slightly in the first three months of this year — but then shrink in the following three quarters.
I went to the grocery and discovered you are lying.
But the prices are still numbing. I used to curse, now I just laugh when I shop at WinnDixie
You misspelled skimmed. Skimmed the economy
Who would have thought!
Because people are getting to the end of their savings...
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Source: Reuters - 🏆 2. / 97 Read more »