A recession, if any, would be different unless the IT sector suffers a severe blow with a cascading effect
By Kiran N. Kumar
No two recessions are alike and the potential of 2023 slipping into it seems rare. If it ever occurs, it would be different from the past ones when a significant fall in spending generally led to a recession or a sustained period of weak economic activity with negative growth, and of course, a huge rise in the unemployment rate.
Some traditional signs of an economic slowdown are already here in the United States — GDP has shrunk for two quarters consecutively and homebuilding activity has plummeted.
Recession 2023: Will it be different from 2008?
