Fears that the economy might be slowing, or even headed for a recession, have been fueled by several newly released statistics and indicators over the past week.
One shocker was the Federal Reserve Bank of Atlanta's GDP forecast for the first quarter which predicts economic growth will be negative 2.8%. This set off alarm bells about a possible recession, particularly in the wake of other concerning data including dropping consumer sentiment and a decline in consumption.
“That's a whole bunch of bad economic news,” John Chang, national director of research and advisory services at Marcus & Millichap, admitted.
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