Citing several cheeky instances of “recession specials” advertised in Brooklyn and San Francisco, CNBC reports it might soon no longer be a silly ironic half-joke by self-satisfied trendsters.
“What’s very clear from the consumer sentiment data is that consumers are broadly bracing for a slowdown in the economy and a deterioration – not just with inflation, expecting inflation to get worse – but they’re also expecting businesses conditions to deteriorate,” said University of Michigan consumer sentiment czarina Joanne Hsu. “They’re expecting labor markets to weaken and jobless rates to go up. And what you’re seeing with these businesses could be a reaction to that.”