According to a recent survey by Citigroup, Inc. (NYSE:C), 86 percent of small business owners fear a double-dip recession is just around the corner. They’re putting their money where their mouths are, too, with 75 percent of small business owners already prepared for a double-dip. The proof is in the pudding, although, the head of Small Business Banking at Citibank, Raj Seshadri, is trying to put positive spin on the survey results. “Yet we are encouraged to see businesses adjusting to the economic environment and preparing for additional challenges — so they are ready to expand and grow when conditions improve.”
If nothing else, though, the ECRI recently rose to a two-week high. The index’s growth rate rose to negative 9.9 percent from negative 10.1 a week ago. New numbers from the Economic Cycle Research Institute are due out today. A reading of negative 10 on the ECRI typically points to a looming recession.
