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Economists Not Hopeful About State of Things to Come

All anyone can talk about is the idea of a potential recession, at least in the finance industry. There are some who are more optimistic than others, but for the most part, many are losing hope.

Things aren’t completely out of sync. Every now and then a company will shatter recession expectations with a quarter than surpasses expectations, leading us to believe that perhaps things aren’t as worrisome as others would have us believe.

But if you ask the following economists, they may not mince words. Putting it harshly is exactly what they did, and their opinions aren’t easy to swallow.

“Can feel the economy weakening,” said an expert in the field. “Clients are making appropriate moves in anticipation of a recession.”

Another executive within the industry shared a similarly bleak, albeit slightly hopeful, sentiment: “Holding steady, but some headwinds are definitely ahead on the economic front. However, supply chain issues appear to be easing, though still not great.”

Wells Fargo economists also chimed in with their two cents, no pun intended: “Despite increased concern of a downturn, there was little sign of a slowdown in the details of the report. The staying power of consumers will eventually run out, but the July ISM services data further support our view that service-sector activity will hold up well in the near-term.”

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