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Peak-to-trough US GDP is expected to decline by 0.8%, a mild recession in line with the 1969/1970 recession.
November 28, 2022
By: Lianna Albrizio
Associate Editor
While economic momentum has protected the US economy this year, what's around the bend in 2023 is the bigger worry, says American credit rating agency S&P Global Ratings. Extremely high prices and aggressive rate hikes will weigh on affordability and aggregate demand. With the Russia-Ukraine conflict ongoing, tensions over Taiwan escalating, and the China slowdown exacerbating supply-chain and pricing pressures, the US economy appears to be teetering toward recession. ...
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