Bloomberg economist believes a mild recession coming in 2013
Bloomberg economist Joe Brusuelas writes that the fiscal cliff poses a “significant risk” to U.S. outlook.
Brusuelas writes, “The current Bloomberg consensus forecast is for a growth rate of 2 percent in 2013, with 1.9 and 2.3 percent rates of expansion in the first two quarters of next year. Should Congress delay acting until early 2013 to address [fiscal cliff] issues, growth will likely slow to less than 1 percent during the first half of the year. Persistence of financial gridlock would probably push the economy into recession in the first half of 2013.”