The economy got off to a stumbling start this year, with just 0.5 percent growth in the first quarter. And we are now eight years removed from the onset of the last recession. Is another one on the horizon?
According to the Wall Street Journal, it's getting more likely. Forecasters in the newspaper's latest survey of business, academic and financial economists estimated, on average, that the U.S. had a 20 percent chance of falling into recession in the next year. That is double the odds from as recently as September.
This rough start to the year also prompted economists to lower their estimates for economic and job growth this year. The average forecast now calls for 1.9 percent growth this year, down from 2.1 percent in last month’s survey.