Stifel Financial, NYSE-listed, conducted a survey that showed executives expecting a U.S. recession. In addition, “53% of respondents believe that inflation will be an issue for the next two quarters to a year.”
According to most executives surveyed, a recession cannot be avoided
Stifel Financial Corp. (NYSE : SF), announced last week the results from a survey on the U.S. economic state. St. Louis’ financial services firm surveyed 70 business executives and private equity investors from July 18 to Aug. 5. The company claims:
Nearly half of respondents think the U.S. will soon be in recession (8%), or are already experiencing one (18%)
Noting that 3% think the U.S. economy will avoid a recession entirely, the firm added that “Inflation and the tight U.S. labor market represent the two biggest perceived threats to business today.”
Moreover, “53% of respondents believe that inflation will be an issue for the next two quarters to a year, with another 43% expecting elevated prices to persist for even longer,” the financial services firm detailed.
Meanwhile, half of the survey respondents are “very concerned” about inflation, Stifel stressed, elaborating:
A majority (81%) are more concerned with passing on rising costs to customers than absorbing them, cutting overhead or switching suppliers.
Analysts, economists and executives share their views on whether or not the U.S. will experience a recession.
Last week, JPMorgan CEO Jamie Dimon warned that “something worse” than a recession could be coming. Elon Musk, Tesla CEO, said recently that inflation has reached its peak and that we may experience a severe recession lasting approximately 18 months. Bank of America predicts that the U.S. would fall into recession in this year’s economic cycle.
Joe Biden stated earlier this month, that there was zero inflation in the U.S. during July. This statement came after his administration attempted to define a recession technically.
Are you concerned about the U.S.’s economy going into recession? Leave your thoughts in the comment section below.
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