• Elon Musk said yesterday he predicts a recession for later this year, a call many executives have made since President Donald Trump implemented his tariff regime. The threat to business activity has also caused concern about a potential recession. Some consumer behaviors can indicate when a recession might be on the way.

Amid Elon Musk and Donald Trump’s mudslinging on Thursday, the Tesla CEO said the president’s tariffs “will cause a recession in the second half of this year.”

Musk could be on to something. Other executives have had the same idea for a while, ever since President Trump instituted sweeping tariffs in early April. While he later put the highest rates on pause, risks remain. Survey results released by Chief Executive in May showed 46% of CEOs forecast a recession or slow

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