Inflation showing signs of cooling over the past few months has lifted consumer spirits. The University of Michigan's consumer sentiment index increased this month to 64.6, the highest reading since January 2022.
While optimism regarding the chances of the economy avoiding a recession has been rising, it cannot be ruled off. The World Economic Forum, through a recent poll of economists, found that nearly two-thirds of the respondents believe there will be a recession in 2023.
