First State Times

With mixed reports of a 2020 recession spreading like wildfire, experts are scrambling to figure out what is happening and come up with ways to fix the problem before the forecasted plunge in the economy.

So, how does Delaware fit into the mix? According to a report from the Federal Reserve Bank of Philadelphia, Delaware's economy could see a decline. However, Delaware is only one of nine states that could see the decline in the second quarter, but the Delaware government is taking steps to prevent this from happening. 

With 41 state ratios projected to increase over the next year, the numbers will be closely watched as the November election approaches. President Donald Trump's administration continues to praise the performance of the economy during the president’s first 18 months and chances of a recession in 2020 appear to have gotten lower as the stock market hits record highs.

The New York Times has confirmed the wave of optimism sweeping over American business leaders.

Binyamin Appelbaum, a New York Times author, confirms the strength of Trump's economy. 

“This is beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolster economic growth, spurs job creation and may finally raise wages significantly,” Appelbaum said.

Bloomberg says there is a 26 percent chance that the U.S. will plunge into a recession in 2020.

Bloomberg's Economics Dept. created a model to determine America’s recession odds. The latest update, which looks at November data, estimates the chance of a U.S. recession within the next year at 26 percent, down from 29 percent in the prior month,"Vince Golle of Bloomberg said. 

"That reading is lower than highs reached at the start of 2019 and will likely move lower given initial positive readings across December data," Golle said.