Posted 11/23/2023, 11:59:43 AM
Recession Fears Fade as Corporate Earnings Calls Show Signs of Economic Resilience
- Mentions of "recession" in corporate earnings calls have fallen for 5 straight quarters and are at lowest level since Q4 2021
- 470 S&P 500 companies have reported Q4 earnings so far and only 53 mentioned "recession"
- Companies aren't explicitly mentioning "recession" but are projecting hits to consumer spending and weak demand
- Wall Street strategists have pulled back on projections of a 2023 recession and are now pricing in a "soft landing"
- Economists point to resilient consumer spending powering recent GDP growth as a sign recession may be avoided in 2023