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Bank of Singapore: Wariness over US recession risk in 2020

US recession risk in 2020 is rising, according to Bank of Singapore’s chief economist Richard Jerram, signalled by peaking profitability due mainly to rising costs — especially labour — and sluggish productivity growth. The bank stresses that economy-wide stagnation of profits tends to occur before recessions, citing the profitability peaks of 3Q97 and 3Q06. “So far, the situation is not…

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