ASA Podcast: Consumers and Recession, what are we Expecting for the 2024 Year?

On the most recent episode of the “Keeping it Real with Dr. Kuehl” economic update podcast for ASA members, ASA Chief Economist Dr. Kuehl answers some member questions on the topic of consumer trends, and the question of a recession in the second quarter.

Dr. Kuehl started off the podcast by talking about consumer trends; the consumer is still barreling along… The last two months have been strong, the consumer is not slowing down. Inflation numbers have had an impact on the consumer, but it is not too noticeable to where the consumer would react. The slowdown is predicted at the end of the year but who knows. 

Chris tells members that there will NOT be a recession in the second quarter. We are not doing anything that would suggest a recession at all this year. He said at worst we will probably see a decline to 1.5 – which is not robust but still an effect. But there are still clear skies when talking about recession - nonresidential construction is still booming and expanding. Government money has been blown from the pandemic, but now we have infrastructure money. So quick answer, consumers are still spending, and we will not see a recession at all this year. 

Dr. Kuehl produces three free economic update podcasts each month for ASA members (on Friday mornings). You can listen to all podcasts here.

Have a question or topic for Chris Kuehl that you would like answered on this podcast? Email it to Bri Baresel at bbaresel@asa.net.