Article 63RV3 Maybe the US is in a recession, but small businesses don’t know it

Maybe the US is in a recession, but small businesses don’t know it

by
Gene Marks
from on (#63RV3)

Inflation is high, interest rates are rising and the stock market is down 18% ... but small businesses are still hiring

Are we in a recession? Because if we are, it's a very strange one.

Sure, we've had two quarters of negative economic growth. Manufacturing demand is shrinking. Construction and housing market activity has slowed. Tech companies are contracting. Financial services and real estate firms are laying people off. Inflation and energy costs remain stubbornly high, interest rates are rising and the stock market is off 18% from the beginning of the year. Just Google recession" and you'll find that the housing market is in one, major banks and investors are warning of one and Europe is heading for one. Over 80 financial advisers say a recession is coming" and one bigwig investor believes that it's going to be a whopper".

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