AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

The likelihood that the United States is already in recession or will fall into one this year has dropped over the past three months to 56% from a nearly two-thirds possibility, according to a survey on business conditions released on Monday.

Approximately 53% of those polled by the National Association of Business Economics (NABE) said they had a more than-even expectation the United States would enter a recession over the next 12 months, while 3% indicated they thought the country was already in one.

Google parent to lay off 12,000 workers in latest blow to tech sector

In the NABE’s previous poll released in October, 64% of respondents indicated that the US economy was either already in a recession or had a more-than-even likelihood of entering one in the next 12 months.

A total of 60 NABE members who work for private-sector firms or industry trade associations responded to the latest survey, which was conducted from Jan. 4-11.

The poll also showed respondents expected inflation to ease within their companies and industries, with a forward-looking gauge for prices charged falling by 10 percentage points since the last survey to the lowest reading since October 2020.

US media rocked by layoffs amid economic gloom

The Federal Reserve is expected to raise interest rates by a quarter of a percentage point at its Jan. 31-Feb. 1 policy meeting as it nears a stopping point in its hiking cycle now that high inflation is on the wane.

The US central bank raised rates last year at the fastest pace since the early 1980s in a bid to quell inflation that was running at 40-year highs.

Inflation, based on the Fed’s preferred measure, is still nearly three times the central bank’s 2% target.

Microsoft to cut 10,000 jobs as tech layoffs intensify

Recent economic data has shown inflation continuing to ebb and consumer and producer prices, profits, and wages all growing more slowly, raising hopes that inflation can be brought to heel without causing a recession.

Comments

Comments are closed.