While the U.S. government has yet to formally label the U.S. economic downturn, 41% of respondents to a recent survey said they feel the country is already in a recession. A Conference Board report, published on Aug. 18, analyzed the responses of more than 1,000 people — mostly knowledge workers — regarding recession observations.
Another 33% of respondents said they believe the economy will be in a recession within the next six months.
Workers’ perception may seem hasty, but not inaccurate: on Aug. 22, the National Association of Business Economics reported that 72% of economists surveyed believe the U.S. will be firmly in a recession by the middle of 2023.
