While experts such as Payden & Rygel Chief Economist, Jeffrey Cleveland, have said that the US economy should make it through 2019 without a recession, over 60 percent of economists have predicted that the economy will enter a recession by 2021. This is according to a survey conducted by the National Association for Business Economics (NABE), which showed that only 10 percent of respondents talked about the possibility of the economy entering a recession in 2019 with 42 percent predicting a downturn in 2020, and 25 percent of economists predicting a recession would occur in 2021.
One of the major concerns for experts is the trade war between the U.S. and China that continues to loom, with more than half of respondents citing the existing tariffs as a major factor that would negatively affect GDP growth in 2019 by a minimum of 25 basis points. Some experts even stated that the tariffs could lead to an increase in inflation. This is in addition to 50% of economists expecting global growth to slow with 25% of them suggesting that it could dip below 3 percent.
The concerns of economic experts particularly surrounding U.S. trade relations and decelerating global growth was substantiated with the stock market entering a volatile period in the latter part of last year.
Respondents in the survey also expressed their concerns about a growing budget deficit with the belief that the administration’s tax law and spending policies will cause it to increase relative to GDP. However, it is not all gloomy for the U.S. economy as panelists cited some positives for the growth of the economy, one of which is the Federal Reserve’s monetary policy. The Trump administration’s deregulation efforts have also been viewed as a positive for the economy.
The Commerce Department is set to release an advance reading for fourth quarter GDP this week, which was previously delayed due to a record-long partial government shutdown.
More economic news and other related information about Singapore and the economic situation in Asia, as well as the services offered by Phillip Private Equity, can be found on their website.
About Phillip Private Equity
Phillip Private Equity is one of the leading private equity firms in Singapore. Formerly known as ECICS Management Pte Ltd, the company offers a wide range of financial services with a focus on providing capital in the form of equity and debt to innovative enterprises across select stages, sectors, and geographies.
The company aims to create businesses with lasting and significant value by closely working with investee companies to accelerate their growth and help them achieve their potential. Phillip Private Equity has a team of fund managers with more than 20 years of experience managing proprietary, in-house and 3rd party funds. The investment objective is to deliver investment returns while safeguarding stakeholders’ interest by protecting against downside risks.
Media Contact
Company Name: Phillips Equity Advisors
Contact Person: Media Relations
Email: Send Email
Phone: +1 212-485-3392
Address:387 Park Avenue South
City: New York
State: New York, 10016
Country: United States
Website: http://www.phillipsequityadvisors.com/
Source: www.abnewswire.com
