Research Shows Fears are Rising as Economy Hurtles Towards Recession

Research Shows Fears are Rising as Economy Hurtles Towards Recession

A new study by Safe Trade Binary Options shows that the number of US Google searches for ‘recession’ is growing as worries mount that an economic slowdown is on the way.

Research shows that recession-related searches peaked twice, once July 12-18, and then for a second time July 24-30. Data analysis suggests that Californians are most concerned about the state of the economy, with the most Google searches on this topic. Texans are similarly concerned, with residents of Idaho, Florida, and Utah also keen to find out more. Those in Alaska and West Virginia appear least concerned and have performed the fewest searches for information around a potential recession.

The technical definition of a recession is a decline in GDP for two consecutive quarters. While this has happened in the USA, there continues to be a strong labor market and other contradictory signals. Fueling confusion, President Biden has also stated that the USA is not currently in recession. The July 24-30 online peak coincided directly with that statement.

Emma Collins, CEO of Safe Trade Binary Options, says, “The US currently fulfills the official definition of recession. The housing market has slowed significantly, income and consumer spending are falling. At the same time, Federal Reserve actions and continuing inflation are a cause for concern. But, the White House says the economy isn’t in recession and some sectors continue to be strong. With so much confusion, it’s not surprising to see a spike in online searches as Americans look to understand what’s really going on.”

It is standard for stock prices to drop during a recession, and with a highly volatile market, severe ups and downs are to be expected. These swings are typically caused by sudden risk on sentiment and are not always indicative of the true economic landscape.

Safe Trade Binary Options is keen to ensure that investors and traders continue to make smart financial decisions, no matter what. The team states that it’s important to remember that recessions are not new, nor are they particularly uncommon, occurring roughly once every five years in the United States. The average recession lasts for just over 11 months, with the economy ‘bouncing back’ each time. A rise in stock prices is often one of the first signs of recovery.

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