2024 looks reminiscent of 1970 and 2001 recession years: Piper Sandler
According to a recent analysis by Piper Sandler, the economic landscape in 2024 bears striking similarities to the recessionary periods of 1970 and 2001, with a few critical differences that could lead to a more severe downturn.
However, they highlight that consumers are significantly weaker now compared to those earlier periods, with the consumer bubble being"much much bigger" than before.The investment firm states that one of the key distinctions this time is the state of consumer spending. The bursting of the stay-at-home consumer goods bubble is also a significant concern, according to the firm.
Overall, Piper Sandler warns that the combination of a weaker consumer base and the unwinding of the stay-at-home bubble could lead to a sharper economic downturn than seen in previous recessions.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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