After disappointing July job report being released, the narrative that a recession is coming in the U.S. has been prevailing among investing community.
Contrary to what many believe, investment research firm BCA Research sees that the economy is on the brink of a recession, and the predicted upcoming rate cuts will not be sufficient to steer markets out of it.
And many economists argue that everyone believes there’s a recession, and that’s exactly the opposite of what the market believes. The noteable sign of the economy slowing down is the “deteriorating” U.S. labor market. The U.S. Labor Department reported that the unemployment rate inched to 4.3% in July to its highest since October 2021, and a gauge for U.S. manufacturing activity fell to an eight-month low in the same month.
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