There are a few words no one likes to hear in economics, but the most feared one might just be “recession.” Just because it is worrying, however, doesn’t stop people from saying it. And after Friday’s economic data misses from both the Bureau of Labor Statistics’ jobs report and the ISM’s nonmanufacturing Purchasing Manager’s Index, which measures the health of the services economy, there are a few voices that have uttered this feared term.
Barclays’ economists brought up worries of a possible recession after the jobs report number. “Since 1960, when payroll growth has dipped persistently below its recovery-period average, the US economy has more often than not found itself in an NBER-defined recession 9 to 18 months in the future,” said Barclays. FULL REPORT