Heading into 2024, analysts say the U.S. recession they’d been forecasting for two years isn’t coming anymore. Everyone else, from companies to investors, is still bracing for a slowdown caused by tepid consumer demand.
Dissonance between the habitually bullish investment bank analysts and the more circumspect money managers is not new. What’s different this time is the level of prudence and caution from some top companies as they outline their plans for next year.
Real money managers are in no doubt about which side to trust. After months of being wrong footed, sell-side analysts are a bit too bullish about growth prospects, Fed rate cuts and a consumption recovery, they say.
Read More : Optimistic Outlook: Global Banks Foresee No Recession, While US Companies Exercise Caution