(New York)

JP Morgan has gone on the record with two worrying recession warnings this week. The first came from the consumer focused analyst in their research division, who warned that the US consumer—who has been the key support for the economy—will weaken rapidly in 2020. Now, the analyst at JP Morgan who covers GE says that markets are likely to sink alongside falling economic expectations. The key point being made is that just having lower expectations won’t allow markets to rebound. “Don’t expect to see enough to justify a meaningful rebound in sentiment”, he said.

FINSUM: The whole of the economy, other than consumers, has been pretty weak lately. If the consumer falters, it is hard to imagine the US staying out of a recession for long.