HSBC Warns US Recession is Coming this Year and Europe to Follow

A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024 PUBLISHED TUE, JUN 27 20236:39 AM EDT UPDATED TUE, JUN 27 20238:34 AM EDT KEY POINTS In its midyear outlook, the British banking giant’s asset manager said recession warnings are “flashing red” for many economies, while fiscal and monetary policies are “out of sync” with stock and bond markets. Along with China, HSBC believes India is the “main macro growth story in 2023” as the economy has recovered strongly from the Covid pandemic on the back of resurgent consumer spending and services. The U.S….