A trio of economic reports on Tuesday found the U.S. economy generally facing slowing inflation, a weakening but still challenging labor market and diminishing odds of an imminent recession.
Yet inflation remains a concern for many businesses, especially smaller ones, according to the August small business optimism index from NFIB.
Although the panel of economists sees the economy slowing in the quarter that begins Oct. 1, they also see a reduction in the odds of a recession.
The panel forecasts a 48% chance of a recession, down from 50% a month ago and 56% in July.
At the same time, the economists see the unemployment rate rising from its current 3.8% to 4.5% by next summer.
Persons:
”, Bill Dunkelberg, ” Jeffrey Roach, “, ” Roach
Organizations:
Federal, Adobe, Computers, Chip, Wolters Kluwer, LPL
Locations:
U.S