Arthur J. Villasanta – Fourth Estate Contributor
New York, NY, United States (4E) – It’s the post-Christmas “gift” no right-minded person wants to receive — but a recession might be in the offing before this tumultuous year ends.
A demoralizing new survey shows American CEOs think a recession might strike as early as the year-end only two short weeks away. Economists and investors alike have been sounding the alarm for months about the likelihood of an economic recession, one of whose main triggers is the economic uncertainty caused by Trump’s trade war.
A New York Times survey surprisingly revealed that almost half of the 134 business leaders at the Yale CEO Summit expected a recession to strike by the end of the year. It said this finding was the direst yet, and shows just how worried corporate executives are about an imminent recession.
A full 67 percent of the leaders cited U.S. political instability — especially Trump’s poor performance as president — and Trump’s trade war with the world as the major triggers for the upcoming recesison.
The U.S. has enjoyed a record 10 years of economic growth since the Great Recession of 2008, and by all measures, is due for a recession. Analysts said the gnawing fear about the oncoming recession is reaching fever pitch.
“The end is near for the near-decade-long burst of global economic growth,” predicted John Graham, a finance professor at Duke and overseer of the survey.
The findings from the New York Times survey also coincide with a Duke University Fuqua School of Business survey earlier this month that found nearly half of all U.S. CFOs also believe a recession is near but predicted it will hit by the end of 2019.
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