National Governors Assosiation

Economists Warn Of Recession In US At Governors Meeting

International News

National Governors Assosiation
A very possible recession within the next three years would take place in the US, economists warned at a meeting of US governors. There is a “100 per cent certainty” of a recession between now and 2018, President of Fosler Group Gail Fosler said on Saturday at the 2016 National Governors Association Winter Meeting, which gathers more than 30 state governors across the country. Urging governors across the country to prepare in advance, Fosler said it is not only because of the economic cycle, but also because what she foresees a financial shock in the upcoming years, Xinhua reported. The speculation of the US economy entering a recession has been long, given the uncertainty of the stock market and the downward trend of manufacturing, said Joseph Lake, Global Economist from the Economist Intelligence Unit. Though there is no need to worry about a recession now, the chance for the US economy to enter into recession is more than 50 per cent in the next two to four years, he noted.