Recession? What Recession…
Coming into 2023, the consensus among “the experts” was that an economic recession was on the horizon. In fact, it was termed the most anticipated downturn ever. These predictions focused primarily on the sharp increases in interest rates initiated by the Federal Reserve in March of 2022 and the expected impact of those increases on economic growth.
However, as the year has progressed, recession projections continue to be pushed out to later in the year or possibly next year. Part of this recession delay, or even recession avoidance, has been driven by the spending resilience of consumers, the warmer winter in which low heating expenses encouraged consumers to spend on goods and services.
Most businesses are still humming along with work and the consumer is still resilient and purchasing. If a recession is in the cards for this year or the next, we feel optimistic that it will be mild. Overall, our expectation is that we could have a so-called soft landing, where underlying economic strength, especially with regard to the labor market, will help the economy avoid a deep recession.
AW2 has weathered multiple downturns in the economy over the years, we are a long-time quality logistics provider that has helped support the growth of our clients letting them concentrate on their core business and allowing AW2 to handle their logistics challenges.
Dean Steiner, VP of Sales & Strategy, Office: 877.223.0605 / Cell: 414.687.6857, or if you have a question for Dean please complete the contact form below and hit the submit button.