The talk of recession in the United States has been going on for months. St. Cloud State Dean, School of Public Affairs and Economic Professor King Banaian we may be in a recession now and if not now, soon. He says typically a recession runs 6 to 9 months:
“If you go out for nine months, I put you in the middle of 23. That would be a pretty good guess. And again, I don’t think you’re gonna see this huge three, four or 5% decline in GDP and an unemployment rate of seven 8%. But you’ll get an unemployment rate in the fives and you would get like a minus one on GDP.”
Banaian expects the recovery from this recession to be slow. He says the signs of coming out of a recession would be an increase in orders, a rebound in the stock market, and an increase in industrial production.