President Donald Trump speaks with reporters before boarding Air Force One at Morristown Municipal Airport in Morristown, N.J., Sunday, Aug. 18, 2019. (AP Photo/Patrick Semansky)Nearly three of every four U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021.
The economists surveyed by the National Association for Business Economics, in a report released Monday, mostly didn’t share Trump’s optimistic outlook for the economy, though they generally saw recession coming later than they did in a survey taken in February. Thirty-four percent of the economists surveyed said they believe a slowing economy will tip into recession in 2021. That’s up from 25% in the February survey.
An additional 38% of those polled predicted that recession will occur next year, down slightly from 42% in February. Another 2% of those polled expect a recession to begin this year.
Despite such forecasts, Wall Street pushed stock prices higher Monday for the third straight day.
The decision to give Huawei more time to buy goods from U.S. companies appeared to put investors eager for any signs of progress in the trade war between the U.S. and China in a buying mood.