"Consumers strongly reacted to the proposed September increase in tariffs on Chinese imports, spontaneously cited by 33 percent of all consumers in early August, barely below the recent peak of 37 percent," Richard Curtin wrote.
President Donald Trump doubts the veracity of economic data, according to a report, because he thinks economists are trying to stop his reelection in 2020.
Consumer spending accounts for more than two-thirds of the U.S. economy, and the retail figures indicated that consumers were not yet tightening purse strings despite dire economic predictions spurred by the inverted yield curve.
"The risk that exists right now in the economy––in the global economy and the U.S. economy––lies squarely, squarely on Donald Trump's reckless, drunk driving approach to economic management."
As the leading U.S. stock markets dropped and signs pointed to a recession, #TrumpSlump trended on Twitter.
"You can only ride the #StolenGlory of President Obama's recovery for so long before your own disastrous policies destroy it all," Charles M. Blow tweeted.
"While we have had seven flat to inverted yield curves, all seven have led to rate cutting cycles. But only four led to recessions," he said, referring to 10-year and 2-year U.S. Treasury bonds," Sam Stovall told Newsweek.
"If the U.S. were to implement 25% tariffs on all imports from China for 4-6 months and China were to respond with countermeasures, we believe we would see the global economy entering recession in three quarters."
"May saw US manufacturers endure the toughest month in nearly ten years, with the headline PMI down to its lowest since the height of the global financial crisis," wrote Chris Williamson, Chief Business Economist at IHS Markit in a statement.
"If talks stall, no deal is agreed upon and the U.S. imposes 25 percent tariffs on the remaining circa $300 billion of imports from China, we see the global economy heading towards recession," said an analysts' note.
The Russian black market is the same size as its total federal spending budget for 2019.
Consumer sentiment dropped to the lowest it's been in two years, according to data released and reported by CNBC on Friday.
"There are a heck of a lot of U.S. companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded." Things will continue this way, "until we get a deal with China, It's not going to be just Apple," he said.
The experts surveyed expressed their dismay over how the president has handled economic policy and and have lowered their expectations for economic growth.
An overwhelming majority of U.S. chief financial officers say the economy will sink into a recession by the end of Trump's first term in 2020, and about half say it will happen next year.
Several economic analysts and the U.S. Federal Reserve say the country is on the verge of a slowdown, with growth having "peaked" despite bold predictions from the Trump administration.
The chance of a recession within the next year is only 28 percent, and the chance that the U.S. faces an economic downturn in the next three years is higher than 80 percent, one tracker found.
About 10 percent of U.S. business economists surveyed believe a recession will begin next year in 2019, while 56 percent believe it will start in 2020.
America's growing budget deficit will increase debt to the highest level in U.S. history by far, according to the Congressional Budget Office 2018 long-term budget outlook.
"Real Time" host Bill Maher said on his show last night that Americans either have to "root for a recession or lose your democracy."
Russian citizens cannot leave the country if they owe more than $483.
The impressive economy, which had so far boosted President Donald Trump, may not last.
Donald Trump gained hugely from the policies of the man he loves to hate, Barack Obama.
"An eye for an eye will leave us all blind and the world in deep recession," Roberto Azevêdo said Monday.