Economists Predicting Recession Score

As you know I am not a fan of market commentators using GDP forecasts as the basis for calling the markets up.
I came across this excellent chart on the ZeroHedge site.

Lets be very clear here since the 50’s (more than 60 years) professional economists have never predicted any of the last 7 recessions. Just take a look at the mean forecast (only 1yr out) and you can see they have never even predicted sub 1% per annum growth. Professionals are paid to produce a positive spin and stay in the pack.

 

 

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