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What do Colorado Springs consumers think of volatile stock market?

It’s been another roller coaster week for the stock market.

The Dow Jones opened with another loss, totaling its drop to more than 800 points before rebounding slightly Thursday.

Economists, including UCCS Economic Forum Director Tatiana Bailey, say a recession could be coming to the country in the next 12-18 months.

“A recession is not inevitable but it is likely,” Bailey told KRDO last week.

Thursday, we asked people in Downtown Colorado Springs what they think.

Peter Fell said, “It honestly doesn’t make sense for the stock market to continue to grow over time. We’re probably past due time for a recession anyway.”

On the other side of the issue, Cliff Attaway says, “I don’t think we’re in a bad part of our economy. I just think there are changes.”

By the end of the day, the market rebounded some of what it’s lost over the last few days.

“The early slide was caused by another weak sign on the economy. Growth in the services sector slowed to its lowest level in three years,” according to the Associated Press.

Another indicator that can signal a recession is consumer confidence, which remains high.

“I think if they talk about it long enough, they can make a self-inflicted recession occur. It’s all about consumer confidence. If you look at the economy and consumer confidence today, it’s pretty high,” Steve Leal in Colorado Springs said.

Bailey explained Colorado is in good standing if a recession does hit the U.S. economy.

KRDO + AP 2019

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