A majority of economists predict that the economy will lapse into a recession either next year or in 2021.
In a survey set to be released Monday by the National Association for Business Economics, 38% respondents said they believe the country will face a recession in 2020 and 34% said they think the start date for a recession will be a bit later, in 2021, the Associated Press reported.
Only 2% of the 226 respondents said they believe there will be a recession this year. That number has decreased since February of this year when 10% said they thought the economy would dip into a decline in 2019.
The survey was conducted between July 14 and Aug. 1 before China was labeled as a currency manipulator and the before the White House announced additional tariffs on $300 billion in Chinese imports.
The economists were largely skeptical about the most recent U.S.-China trade negotiations, only 5% think that a comprehensive trade deal would result, 64% that a superficial agreement would arise from the talks, and 25% didn’t think anything would be agreed upon by the two powers.
