Is a US recession imminent?

Is the US economy approaching a recession?

John Hussman thinks so. In his latest market commentary, he wrote that a US recession is "not only a risk but an imminent likelihood".

Hussman pointed out that there had already been a long period of poor financial market internals and weakening order surplus, and last week provided fresh declines in industrial production and retail sales.

However, Myles Udland thinks otherwise.

Citing analysis by Deutsche Bank, Udland wrote that "the US consumer is the heart of the economy, and right now there are few signs that this force is rolling over".