Furniture Today: Noted economist sets expectations for 2023 recession

By Sheila Long O’Mara // Executive Editor, Furniture Today

ORLANDO, Fla. — Are we? Or aren’t we? Will we? Or won’t we? If so, when will it happen?

Those are among the top questions business leaders and most everyone else is asking in regard to whether or not the U.S. economy is in a recession or heading into one in 2023. Mark Vitner, CEO of Vitner Consulting and former managing director and senior economist with Wells Fargo, weighed in on the economy at the Furniture Today Leadership Conference here and predicted that it’s 60-40 that we’ll see a recession next year.

In a wide-ranging, on-stage interview with Bill McLoughlin, Furniture Today editor in chief, Vitner summed up the economy best by saying “it’s complicated.”

“It’s more complicated than it has been for some time,” Vitner said. “During the pandemic, the stimulus checks created a false boost. The supply chain bottlenecks have gotten better by some metrics and worse by others. It’s a very confusing time.”

This article was originally published in FurnitureToday. Read the complete article here.