A recent survey of economists concluded the chances of the U.S. experiencing a recession are at 18%. In December, it was half that.
While economists vary in opinion on what is driving us toward a recession, Brett Ryan chief economist at Deutsche Bank claims, “The manufacturing sector is already in recession.”
The plunge in oil prices have caused smaller energy companies to go out of business and are inducing stress in the credit markets tied to oil and oil contracts. Consumers may get a tax break and significant pleasure at the pump but the joy isn’t felt globally, as Stock Markets experience drops as a direct result.
According this report by CNN Money, “Citigroup predicted a 65% chance of a U.S. recession…â€