ERP – A Smarter Way to Handle Recession
Bank of America CEO, Brian Moynihan states the Bank is planning to operate in a recessionary environment in 2023 (CNBC,2023). Bloomberg’s monthly survey also predicts the United States working towards a recession, with declining GDP and the soaring rate of inflation drastically reducing the spending power of consumers and businesses in the U.S. Bloomberg also anticipates unemployment to reach 4.9% by the first quarter of 2024, which itself is not a welcoming sign. On average, investments are projected to decline by 3% and industrial production is expected to deteriorate by 0.7% in 2023. Read More