Home Breadcrumb caret Industry News Breadcrumb caret Industry Breadcrumb caret Investments Breadcrumb caret Market Insights Flagging consumer confidence points to recession A recession may be on the horizon, according to Julia Coronado, chief economist for North America at BNP Paribas. By Staff | September 2, 2011 | Last updated on September 2, 2011 1 min read A recession may be on the horizon, according to Julia Coronado, chief economist for North America at BNP Paribas. She says stalled consumer confidence and non-existent job growth are a bad combination for the future direction of the U.S. economy. The deteriorating confidence measures caused Coronado to downgrade her outlook for future GDP numbers. She predicts other economists will follow suit. Watch : BNP’s Coronado Sees `Mild’ U.S. Recession Gluskin Sheff & Associates chief economist and strategist David Rosenberg says the poor jobs showing enforces a growing concensus the outlook is grim. He adds there’s little the U.S. Federal Reserve can do to jumpstart the flagging economy. Watch: Rosenberg Says Fed Can’t Do Much to Avert U.S. Recession Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo