One-Third of Economists Predict US Recession in 2021
(NEW YORK) -- Among 226 economists surveyed by the National Association for Business Economics, 34% said a recession would hit the U.S. in 2021, an increase from 25% who believed so in February.
The new survey, released Monday by the Washington-based organization, also revealed that fewer economists expected a recession to begin this year -- only 2%, down from 10% who said so in February.
Additionally, 38% of the economists are predicting a recession will begin in 2020, down from 42% in February. The number who believe a recession could hit later than 2021 increased to 14% from 11%.
President Donald Trump has made the U.S. economy a cornerstone of his reelection campaign, and he told reporters on Sunday, "I don't see a recession."
"I'm prepared for everything," Trump added. "I don't think we're having a recession. We're doing tremendously well. Our consumers are rich. I gave a tremendous tax cut. And they're loaded up with money."
Peter Navarro, a White House trade adviser, said Sunday on ABC News' This Week that the U.S. economy would be strong through 2020.
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