US recession risk rises as US-China trade tensions heat up
Updated : May 17, 2019 06:49 AM IST
US President Donald Trump has dismissed the ongoing trade war with China as a “little squabble,” but there are clear signs of the conflict already having an impact on the economy, and the stock market has become jittery again.
The US economy is forecast to have already lost considerable momentum, slowing to 2.0 percent in the current quarter from 3.2 percent in the first three months of the year, according to median forecasts from the latest monthly poll of 120 economists.
That forecast for April-June is a sharp downgrade from 2.5 percent in last month’s poll, owing in part to the unexpectedly strong figure reported for January-March.
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