Quoted: Steven Deller, professor of agricultural and applied economics at the University of Wisconsin-Madison, said U.S. and global economic activity is expected to decline in 2023. Deller cited the Wall Street Journal’s Monthly Survey of Economic Forecasters, which averages 68 economic forecasts from individuals, organizations and universities, in a recent presentation.
“There’s pretty much consensus that we’re going to go into a slowdown, and that, if we go into a recession, it is going to be a very mild recession,” he said. “There’s actually a significant number of economists that are actually saying, ‘No, we’re not going to go into a recession. We’re going to go into a serious slowdown.'”