The US is in an industrial recession, according to Piper Sandler economist Jake Oubina.
A spike in oil prices could be enough to tip the economy into a full recession, Oubina added.
But in general, the economy's showing an industrial recession," Oubina said in an interview with Fox Business on Tuesday.
AdvertisementThe economy could slip into a broader recession if there's a spike in oil and energy prices, Oubina added.
"Oil prices spiking, energy prices spiking in the past, have been enough to tip the economy from a slowing into a recession.
Persons:
Piper Sandler, Jake Oubina, —, That's, Oubina, Brent
Organizations:
Service, Institute of Supply Management, Fox Business, Atlanta Fed, Bank of America
Locations:
Iran, Israel