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Conflicting reports as to whether the US economy will enter a recession have kept businesses on edge over the last few months . President Biden recently announced his view that there will be no recession for 2023 and even into 2024 , yet others are not so convinced .
The recent surge in big tech layoffs has sparked recession concerns industry-wide , with conglomerates Alphabet and Microsoft announcing job cuts for tens of thousands of staff last month . Even Tesla ’ s Elon Musk is braced for a ‘ pretty difficult recession ’ while housing sales continue to plummet and the US manufacturing sector contracts for the third consecutive month .
Experts are now warning the US faces a ‘ rolling recession ’ where not all sectors of the economy decline simultaneously . Instead , they take turns contracting over a longer period .
SS scw-mag . com 19