Is A Recession Coming? Share Your Thoughts
06/02/2022
In a recent online article for porkbusiness.com Tyne Morgan summarizes how some of the warning signs of recession are heating up. She cites gas and diesel prices (up 51%), grocery prices (up 10.8%), meat/poultry/fish (up 14.3%) and the overall Consumer Price Index is up 8.3% over last year.
In a recent online article for porkbusiness.com Tyne Morgan summarizes how some of the warning signs of recession are heating up. She cites gas and diesel prices (up 51%), grocery prices (up 10.8%), meat/poultry/fish (up 14.3%) and the overall Consumer Price Index is up 8.3% over last year.
The full article is here: https://www.porkbusiness.com/news/ag-policy/warning-signs-recession-are-now-heating?
Tyne shares several quotes from Glynn Tonsor, an Ag Economist from Kansas State including:
• “Pessimism is pretty high with typical consumers as we speak…In the past that can be a barometer for recession coming.”
• “Consumers are tightening their belt, and maybe that will reduce demand for products enough that that induces a recession in 2023.”
Other financial experts weighed in with opinions that even if there is a recession, it won’t have the same impact as past recessions because consumers, and the economy, “…are better equipped to weather expected rate hikes by the Federal Reserve.”
Of course, a typical recession isn’t defined until after the fact, but we can watch for additional warning signs to emerge if this period of high inflation and reduction in consumer confidence continues on its current trend.
What are your thoughts? Should we expect a recession, or will these early indicators prove to be false alarms?
This article is the personal opinion and perspective of the author and may or may not be consistent with those of other ASAC Members. ASAC as an organization does not advocate positions on issues.
Don Tyler
ASAC Member
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