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Major recession imminent in West – HSBC
The US economy may contract as soon as this year with Western Europe to follow in 2024, the bank warned The US is projected to enter recession in the fourth quarter of 2023, the British banking giant HSBC said on Tuesday, adding that Western European countries would face a downturn as soon as next year. According to the midyear outlook issued by HSBC Asset Management, recession cautions are “flashing red” for many economies as stock and bond markets are “out of sync” with fiscal and monetary policies. While some parts of the economy are still resilient, the balance of risks “points to high recession risk now,” wit

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