American economists predict recession in U.S. in next couple of years

26.02.2019,12:12


February 26, Fineko/abc.az. Many American economists believe that recession awaits the U.S. no later than in 2021.

Bloomberg reported about that on Monday, citing the results of a survey conducted by the National Association for Business Economics (NABE) on 30 January – 8 February with participation of 300 experts.

"10% [of economists] predict the beginning of recession this year, 42% - next year, while 25% - in 2021," said the Agency, adding that the rest participants of the study either expect an economic downturn in the U.S. after 2021 or refrained from forecasts.

Most respondents are concerned about the trade policy of President Donald Trump. 36% of them think that the existing tariffs, if they remain at the current level, will lead to a decrease in GDP in 2019 by 25 basic points, 26% suggest that by 50 points, and 15% that by more than 50 points. Country's GDP is currently estimated at about $19.5 trillion.

In addition, economists predict that the tariff policy of the Trump Administration will lead to a surge in inflation in the country already this year.