People shop at the Nordstrom Local DTLA in downtown Los Angeles on March 15. Some economists point to the decline in consumer confidence, to levels not seen in years, as evidence that higher prices are taking their toll. Photo: AP
Opinion
Opinion
Macroscope
Can we avoid a global recession? That largely depends on the US
- Falling consumer confidence and stock sell-offs have sparked concern about a growth slowdown in the US, which given its economic size could drag down the rest of the world with it
- However, a US downturn is not inevitable, especially given the healthy state of the labour market
People shop at the Nordstrom Local DTLA in downtown Los Angeles on March 15. Some economists point to the decline in consumer confidence, to levels not seen in years, as evidence that higher prices are taking their toll. Photo: AP
