Economists say that they expect the American economy to slow notably over the next 12 months as recession fears refuse to fade. A poll of economists carried out this week by Reuters says that experts don’t expect the sluggish economy to regain any sort of notable momentum anytime soon.
S&P Global Ratings gives a 25% – 30% chance of a recession in 2020 while others remain concerned about the US China trade war and a falling global growth outlook. In a piece Thursday, the news agency said, “The protracted trade war between China and the United States and a deteriorating global growth outlook have left investors nervous that the longest expansion in American history is at risk of ending.”
It cites the increase in jobless numbers and claims for unemployment benefits, the inverted yield curve we saw earlier this year, declining consumer confidence, a 12-year-low manufacturing slump and recent a decline in S&P 500 Company earnings as causes for major concern.
While it notes that the threat of recession has eased slightly from the 30% – 35% high hit in August, it cautions, “The protracted trade war between China and the United States and a deteriorating global growth outlook have left investors nervous that the longest expansion in American history is at risk of ending.”
Of course, with economists fully expecting a lethargic economy to continue for the foreseeable future, all the concerns raised make an extremely strong argument to buy gold now to future-proof your portfolio.
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