US Dodges 2023 Recession: Crypto Projections For 2024

• US Economy Withstands Recession Predictions for 2023
• An Upsurge in the US Real Estate Sector
• Projections for the US Economy in 2024
• Predicting a 'Mild Recession' in 2024
• Debt Reduction by Multinational Corporations and Its Impact
• The Jobs Sector May Take a Hit

US Economy Withstands Recession Predictions for 2023

In contrast to the widely-held predictions of a 2023 recession by prominent analysts and global banking giants like JP Morgan and Standard Chartered, the US economy demonstrated resilience, successfully avoiding the anticipated downturn. The economic indicators ended on a positive note, with inflation decreasing to 3.1% from the previous year-on-year figure of 6.5%. The job market retained its robustness, with employment rates remaining largely unaffected nationwide.

An Upsurge in the US Real Estate Sector

While the economic health of the US remained intact, the real estate sector experienced a significant boost. This development, however, has created a financial pressure on the working class as property ownership and rental costs skyrocketed, consequent to the US dodging a real estate crash.

Projections for the US Economy in 2024

As the US successfully avoided a 2023 recession, speculation is rife about the economic outlook for 2024. This article will shed light on potential economic scenarios for the ensuing 12 months.

Predicting a 'Mild Recession' in 2024

Larry Adam, Chief Investment Officer at Raymond James, anticipates that the US might encounter a mild recession in 2024. Adam foresees potential layoffs at major tech companies including Amazon, Microsoft, Google, and Meta, extending into the following year as these companies strive to prevent financial exhaustion and maintain stability during any impending economic crisis.

Debt Reduction by Multinational Corporations and Its Impact

If multinational corporations take steps towards reducing their debt, this could potentially influence the US economy. Despite this, Adam is not predicting a dire economic downturn like that experienced in 2008. Rather, he suggests the possibility of a milder recession in 2024. According to Adam, this recession, if it occurs, could be the mildest in history.

The Jobs Sector May Take a Hit

Adam believes that the jobs sector may be particularly vulnerable, although he views this as a temporary phase. He anticipates that after any potential economic storm has passed, tech giants may resume hiring.

Edited by Jonathan Stoker