A former Senate budget writer said the hit to the state budget could be bigger than during the Great Recession, when state revenue dropped 15% over two years.
IBJ Podcast: Pete The Planner on how to prepare for the next recession
Pete the Planner talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you’re making a mistake if you try to time the market’s ups and downs.Read More
Across the country, consumer spending—which supports 70% of the economy—is grinding to a halt as fears of the escalating coronavirus pandemic keep people from stores, restaurants, movie theaters and workplaces.
The nation’s business economists think President Donald Trump’s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
The economists surveyed were skeptical about prospects for success of the latest round of U.S.-China trade negotiations. Only 5% predicted that a comprehensive trade deal would result.
Companies banged up during the Great Recession a decade ago have been preparing for the next slowdown by keeping workforces lean, adding technology and avoiding excessive debt.
Most analysts expect the U.S. economy to power through the rough patch, at least in the coming months, on the strength of solid consumer spending and a resilient job market.
Ten years after the official start of the downturn, entrepreneurs who survived the recession share painful memories and lessons they learned.
The chief investment strategist for Fifth Third Bank says the economy is in the seventh inning of its recovery, which is "good news." But headwinds in the labor market could be limiting the potential for growth.
Employers added 156,000 jobs in August, enough to suggest that most businesses remain confident in an economy now in its ninth year of recovery. Pay raises are still meager, however.
The U.S. economy rebounded sharply in the spring, growing at the fastest pace in more than two years amid brisk consumer spending on autos and other goods.
The vote in favor of a “Brexit” has shocked investors and sent stock markets plummeting around the world. Years of financial uncertainty lay ahead on a global scale as the U.K. and EU find their footing.
While many CEOs are planning for the next fiscal year, a cohort of local executives is planning for the next fiscal downturn. Group members have their eyes on 2019, forecast by some economists to be the year the next economic contraction arrives.
Brad Davis and Paul Estridge Jr. belong to a select fraternity. They’re prominent Indianapolis homebuilders whose companies faltered during the housing downturn, only to re-emerge in another incarnation.
Part-time and contract jobs in the past tended to rise during recessions and recede during recoveries. But maybe no longer: Part-time workers have accounted for more than 10 percent of U.S. job growth since the recession officially ended in June 2009.