Recession Odds Drop as Economists Foresee Resilient Jobs Market, Consumer Spending
• Economists lower US recession forecasts to 40% due to expectations of firm job market and consumer spending • Projections of economic growth, household demand, and government spending increased • Unemployment rate now expected to peak at 4.1%, with more job gains through 2026 • Chance of recession in next year drops to lowest since mid-2022 at 40% • Fed now expected to keep interest rates higher for longer, with only one rate cut in Q3