By Richard Frankel
- Current Economic conditions
- We are not currently in a recession.
- Consumer confidence is at an extreme low compared to the 50-year average.
- Economic Outlook
- The economy is unlikely to recover fully until after 2026.
- GDP Projections
- GDP will be slow to its 2% trend.
- A recovery to the 2% trend level is extremely unlikely in the next few years, according to consensus reports.
- Inflation Outlook
- Inflation is likely to fall to its 2% trend by 2027, according to consensus reports.
- Employment and Wages
- More people are holding onto their jobs.
- Wage growth has slowed.
- Unemployment is stagnating at a low level.
- Purchasing power has fallen greatly in many countries.
This is a snapshot view the full Economic Commentary below.