14 Best Stocks To Buy Before the 2023 Recession

Posted By TheNewsCommenter: From News.yahoo.com: “14 Best Stocks To Buy Before the 2023 Recession”. Below is an excerpt from the article.

In this article, we discuss 14 best stocks to buy before the 2023 recession. If you want to see more stocks in this selection, check out 5 Best Stocks To Buy Before the 2023 Recession. 

Investment advisory Barclays forecasts that 2023 will be one of the worst years for the global economy in forty years. Ned Davis Research put the chances of a crushing global downturn at 65%. Similarly, Fidelity International thinks a hard landing seems inevitable. As the Federal Reserve sticks with its most aggressive fiscal policy in decades, Wall Street consensus is that a mild recession will strike globally even if inflation has peaked.

Market experts think there is a 7-in-10 probability that the US economy will slip into a recession in 2023, and they are trimming demand expectations and slashing inflation forecasts in light of tremendous interest rate hikes by the Federal Reserve. The median estimates suggest that gross domestic product will average a meagre 0.3% in 2023, including an annualized 0.7% drop in the second quarter and flat data in the first and third quarters. Consumer spending, which accounts for about two-thirds of the GDP, is expected to grow just barely in the middle half of 2023.

“The US economy is facing big headwinds from surging interest rates, high inflation, the end of fiscal stimulus, and weak export markets abroad. Businesses have turned cautious about adding to inventories and hiring, and will likely delay construction and other capex plans with credit more expensive and order books shrinking.”

During periods of recession and general market volatility, individuals tend to pile into defensive assets like gold (see 13 Best Gold Stocks To Buy For Recession). Similarly, investors prefer to solidify their portfolios with recession-proof equities (see 10 Best Recession Proof Stocks To Invest In). Some of the best recession stocks to buy for 2023 include Costco Wholesale Corporation (NASDAQ:COST), Bank of America Corporation (NYSE:BAC), and UnitedHealth Group Incorporated (NYSE:UNH). 

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