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Michael Patton Advising: Is the U.S. Economy in a Recession?

Friday, August 5, 2022 @ 12:08 AM

Posted by Joanne Bauer

Michael Patton newCLARION, Pa. (EYT) – Michael Patton, of Patton Financial Advising, submitted the following article: Is the U.S. Economy in a Recession?

In an early July poll, 58% of Americans said they thought the U.S. economy was in a recession, up from 53% in June and 48% in May.(1) Yet many economic indicators, notably employment, remain strong. The current situation is unusual, and there is little consensus among economists as to whether a recession has begun or may be coming soon.(2)

Considering the high level of public concern, it may be helpful to look at how a recession is officially determined and some current indicators that suggest strength or weakness in the U.S. economy.

Business Cycle Dating

U.S. recessions and expansions are officially measured and declared by the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), a private nonpartisan organization that began dating business cycles in 1929. The committee, which was formed in 1978, includes eight economists who specialize in macroeconomic and business cycle research.(3)

Read the full article here: https://www.pattonadvising.com/HOT-TOPIC-Is-the-U-S–Economy-in-a-Recession.c9942.htm

Patton Financial Advising
51 N. 4th Avenue
Clarion, PA 16214
814-226-9400
Toll-free 1-877-547-2751

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Visit website: www.pattonadvising.com

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(Photos by Dave Cyphert of ProPoint Media Photography)


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