(AGENPARL) - Roma, 13 Agosto 2024 - (AGENPARL) – mar 13 agosto 2024 For Immediate Release
Media contact: Jordan Major
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United Kingdom,
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Google Search for ‘recession’ rockets 244% in August 2024 as fears for the financial future rise
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Early August demonstrated the fragility of the stock market’s otherwise strong performance in 2024. A weak US employment report, spillover effects of the yen carry trade, and fears of further escalation in the Middle East led to the single worst session since 2022 as trillions were wiped from the economy within hours.
Though the catastrophic trading on Monday, August 5, triggered the spike, the pressure has been mounting for months as investors and experts have been increasingly worried about the effects of high interest rates, the ever-growing government debt, and the possibility the artificial intelligence (AI) boom has generated a dangerous bubble.
The fears and the search volume have not been confined to the US. Worldwide data also shows a 177% spike in interest in ‘recession,’ with New Zealanders and Singaporeans showing the most concern.
No clear consensus on whether boom or bust lies ahead
Despite the high interest and the early August selloff, there is still no consensus about whether a recession is indeed coming or even if it has already started. As Andreja Stojanovic, a co-author of the research, pointed out:
“Much like the markets in 2024 were marked by contradictions, with recessionary fears coexisting with record highs for benchmark indices and major stocks, experts have been divided in their analysis of the actual state of the economy.”
Indeed, since 2024 started, prominent experts have come out as being on both sides of the fence, with some believing the bull market has only just begun and others foreseeing massive downsides for most investments.
Whatever the case, the rocketing search interest for ‘recession’ and the speed and severity of the market reaction to bad news – be it earnings reports, government press conferences, or political news – demonstrate that the US economy is, at the very least, perceived as on very shaky ground.
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