Businesses that are not preparing for the possibility of a recession within the next year are gambling because experts put the odds of an economic downturn as a true coinflip.
“The median probability of a recession over the next 12 months is 47.5 percent, up from 30 percent in June, according to a Bloomberg survey of economists completed last week,” reported CNBC on July 20, 2022.
In March, those odds were just 20 percent. The latest survey was conducted July 8-14, with 34 economists responding about the chances of recession.