"Experts Predict 50% Chance of Recession in 2024 as Economy Slows: NABE"

Economists from the National Association of Business Economics (NABE) predict a sharp slowdown in the US economy in 2024, with a projected growth rate of 1% between the fourth quarter of 2023 and the fourth quarter of 2024. The US GDP is expected to slow to 1.2% in the fourth quarter of this year, and manufacturing has contracted for the 13th consecutive month. Despite the slowdown, fewer economists see a recession on the horizon, with three in four assigning a probability of 50% or less. Inflation is expected to continue moderating, but it is unlikely to reach the Federal Reserve's 2% target before the end of 2024.