economy
(77WABC) — A new survey by Stifel Financial finds 18% of corporate executives, business owners and private equity investors believe the economy has already contracted and is in a recession —compared to about 79% who expect a downturn within 18 months.
A small fraction of executives — about 3% — think a recession Will be avoided altogether. The study found the biggest threat to profitability is record high inflation and a continuing labor shortage.
More than half of respondents — 55% — expect inflation to remain problematic for the next two quarters to a year, while another 43% anticipate high prices lasting even longer.
Consumer prices climbed 8.5% in July and were unchanged from the previous month, with inflation at a 40-year high under the Biden administration.
