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Three-fourths of economists predict recession by 2021: survey

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02/26/2019 04:33 AM
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Three-fourths of economists predict recession by 2021: survey
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More than three-fourths of an influential panel of economists said the U.S. will enter a recession by 2021, according to survey results released Monday by the National Association of Business Economics (NABE).

Of the 281 members of NABE, a leadership and research group for business economists, 77 percent said they believe the U.S. economy will begin to shrink within two years.

The results are the latest sign of concern that a slowdown in global growth will soon weigh down the U.S. economy.

More than half of NABE members said the U.S. economy would begin to retract by 2020, with 42 percent projecting a recession next year and 10 percent predicting one within 2019.

One-fourth of NABE members said the next recession would start in 2021, 11 percent said it would start after 2021 and 13 percent did not say when they expected the U.S. economy to pull back.