Since the spring, when U.S. GDP growth started to significantly contract and Russia's invasion of Ukraine drove up oil prices
doomsayers have been crowing about an impending recession.
Now it appears as though the critics might prevail.
The outlook for U.S. and global economic growth is deteriorating, and more economists are now calling for a recession.
Recent prediction revisions by S&P Global Market Intelligence reduced their 0.9% GDP growth to 0.5% drop estimate for the U.S. economy in 2023.
Employers in the United States created 263,000 new jobs in September.