More than half of Americans surveyed by MetLife think a recession will hit the US in the next year.
To make matters more dire, few people feel they are prepared for one.
The Great Recession of 2008 is still fresh in many Americans’ minds, and they’re worried about how a downturn will impact savings and jobs.
on Business Insider.
Americans are worried that a recession is looming, and few think they’re prepared for one, according to a recent study by MetLife.
Of the 8,000 American adults MetLife surveyed in September, 51% said that they believe a recession will occur within a year. Of those, 47% gave themselves low marks on financial literacy, and 28% said they haven’t changed any behaviors since the Great Recession in 2008.
There have been a number of signs that a recession could be on the horizon. For one, the US Treasury yield curve — a trusted indicator that’s preceded every economic meltdown since 1950 — has been flashing red since May.
The threat of a trade war and further tariff escalation is also making consumers and businesses uneasy. That’s a troubling development, considering consumption makes up roughly 70% of gross domestic …read more
Source:: Businessinsider – Finance