DECEMBER 19, 2018
Objects in the Mirror
By Hilary Collins, Specialist, Publications and Research, Financial Managers Society
The next recession is a seeming inevitability – the only questions being when it will arrive and how damaging it will be.
The answer to the first question, according to CEOs surveyed by the New York Times, is sooner than you think – almost half of the respondents thought the downturn could happen as soon as this month. While these CEOs certainly moved the timeline up, the fear of a recession has been widespread for a while now. Another survey found that 82% of CFOs expect a recession by the end of 2020 at the latest – but almost half of them thought it was likely to happen in 2019. A recent FMS Quick Poll (soon to be featured in the January-February issue of FMS forward) found that FMS members have similar concerns, with several saying that a recession would be the big story of 2019.
With the predominant feeling that a downturn is well on its way, then, perhaps the best thing to do is to start battening down the hatches.