ABC Economist: 2023 Could Be Fraught With Risk

By Ryan Whisner | The chief economist for the Associated Builder and Contractors maintains his opinion that the balance of 2022 will be a time of growth, but 2023 could be fraught with risk. Although many economists would put the risk of recession within the next 12 months at less than 50%, Anirban Basu is not one of them. From the start of the year, he has forecast the likelihood of a pending recession and had no issue remaining on course during his mid-year review. “There’s this big debate taking place in America right now about whether or not we’ve already been in recession,” he said during the recent Construction Executive Mid-Year Construction Economic Update and Forecast. “I still don’t think a recession has begun though, but we probably have had two consecutive negative quarters of GDP growth.” READ FULL ARTICLE>>