Credit Suisse Declares Economy in 'Semi-Recession'

Chris Gaetano
Published Date:
Oct 3, 2019

Credit Suisse, looking at the sluggish pace of economic growth as of late, said that while things aren't as bad as they could be, we're still in what it dubbed a "semi-recession," according to CNBC. The financial services company based this conclusion on decidedly mixed economic data.

On the one hand, inflation is rising apace, credit is still strong and employment numbers continue to improve, which are all good signs. On the other, the yield curve on Treasury bills has inverted, and manufacturing has slumped to a degree not seen since in years, indicating a broader reduction in economic activity. On no hand at all are housing data and earnings growth, neither of which are particularly good or bad.

Regardless, Credit Suisse said that the risks for the semi-recession to turn into a regular recession continue to grow. For now, however, the economy occupies a decidedly mediocre position, according to the company's analysis.

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