Source: Denver Post —
Consumers have held a recession at bay for months now with their robust spending, fighting off the burden of rising prices and higher interest rates. But their resolve, not to mention their financial reserves, are waning and that could force a retreat in the larger economy.
“My guess is that a recession happens in the middle of 2023,” predicted economist Eliot Eisenberg while addressing the Denver Metro Association of Realtors Economic Summit on Friday morning. “It won’t be that deep and it won’t be that long.”
Even if the economy doesn’t technically enter a recession, growth will be close to zero, he said, speaking primarily to real estate agents who are already feeling the cold winds of a chilling economy.
The U.S. economy consists of consumer spending, business investment, government spending and trade, or exports minus imports. Most of those areas are weakening in ways that will likely accelerate as the year moves forward.
