Posted 12/4/2023, 5:13:00 PM
Recession Risk Rises to 50% in 2024 on Slowing Growth, But Concerts and Local Economies See Uptick
- Economists forecast a 50% chance of recession in 2024 amid slowing GDP growth, down to 1% by end of 2024
- Inflation expected to remain above Fed 2% target through end of 2024
- Unemployment rate rose to 3.9% in October, exceeding Fed forecasts
- Construction spending and manufacturing decline due to high costs and low productivity
- Blockbuster concerts like Taylor Swift's "Eras Tour" and Beyoncé's "Renaissance" have boosted local economies