Leading economists and financial institutions, including Bank of America and Oxford Economics, are forecasting a significant slowdown in the US economy in 2024. The US manufacturing sector has been contracting for 13 consecutive months, indicating a challenging economic landscape. Projections indicate a potential 50% chance of recession. Despite differing opinions on the severity of the slowdown, the consensus points to a notable deceleration in GDP growth, with estimates as low as 1% for 2024.
Job data suggests ‘soft landing’ is increasingly likely, economists say https://t.co/4aSMGaURsB
Bank of America CEO Brian Moynihan said there are signs of the US economy slowing, but his firm still expects a soft landing rather than a recession https://t.co/F6STdURksz
“We are in a soft landing camp now,” Oxford Economist lead US economist @nanc455 says on the outlook for the US economy going into 2024. “We do look for growth to slow quite a bit to about 1% in 2024.” https://t.co/k2qu6y8aDR
Economists forecast 50% recession odds amid stark economic slowdown in 2024 https://t.co/mFxuLxr2Hi https://t.co/XQqhXuFBs3
We expect a material slowdown in the #US #economy in the next couple of quarters to give way to a modest acceleration in #GDP #growth in the second half of 2024. https://t.co/M3M6Mjh2n4 https://t.co/Ketgfk3kYi
Economy to slow in 2024, economists see 50% recession odds (Fox Business) US manufacturing has been contracting for 13 straight months. The U.S. economy is heading for a sharp slowdown next year, according to the nation’s leading economists. U.S. GDP is expected to slow to… https://t.co/gbr6OHT37v