Economy Flashing Warning Signs as Recession Fears Grow
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Employment data showing signs of weakness, with unemployment rate expected to rise in coming quarters. Q4 likely to be marked as start of recession.
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Consumers cutting back spending after pandemic stimulus money has been spent. Credit card debt at record levels.
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Businesses cutting earnings expectations, with 7 of 10 sectors forecasting lower Q4 earnings.
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Banks tightening lending standards across all loan types, raising loan loss reserves.
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Inflation falling rapidly, with risk of deflation if recession is more than mild.