With the formation of an inverted yield curve in the US and other global events like the US-China trade war, slow down in certain industrial sectors, etc. there are concerns that a recession is looming.
However, there are other reliable indicators that suggest that a recession is unlikely or at worst, will follow after a lag. If major central bank stimulus packages are successful and industrial production pans out according to the PMI forecast, crude oil prices can be expected to bottom out and demonstrate a volatile recovery.
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