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- Strong economic data has cut the chance of an economic downturn in the next year to 33%, according to Bankrate.
- Economists credit robust consumer spending for boosting the strength of the economy.
- Still, economists warn of a possible delayed recession due to ongoing geopolitical tensions.
On the heels of a streak of hot economic indicators, the odds of a recession have plunged to a two-year low, according to Bankrate.
The firm's latest quarterly poll of economists notes that the likelihood of an economic downturn within the next 12 months has decreased to 33%. This figure marks a significant decline from the peak of 65% in the third quarter of 2022 and the first time since the third quarter of 2023 that no economist has been absolutely certain about a recession.