A new Bloomberg model shows a better-than-50% chance a recession could begin this year. According to Anna Wong and Tom Orlik, two chief economists at Bloomberg Economics, the model works "fairly well" at matching previous calls of recession. AdvertisementAdvertisementAccording to the model, the US could declare a recession in 2024 following a possible economic dip in the last months of 2023. Other factors not out of the woodsAnd then there are the maybes: the United Auto Workers strike and a potential government shutdown. If the model is correct, there is already a good chance a recession may hit.

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Persons: —, Anna Wong, Tom Orlik, Mario Tama, Taylor Swift, Jeff Kravitz, Debbie Downer, Paul Sancya, Kevin McCarthy, It'll Organizations: Bloomberg, Service, National Bureau of Economic Research, Bloomberg Economics, San Francisco Fed, United Auto Workers, Victoria Hall, Ford Michigan Assembly Plant, GM, Ford, AP Locations: Santa Clara , California, Wayne, Mich