GURA: Many economists share that outlook. KRENZ: To me, it doesn't feel like we're in a full recession yet, but it does seem like it is definitely a possibility around the bend. Right now, Krenz says, there's a lot of economic uncertainty. Krenz lives close enough to work to walk there, but some of her clients live 100 miles away, and they complain about gas prices. They're cutting back on some subscription services. KRENZ: Yeah, I guess we're just being a little extra cautious right now, my husband and I, and not doing a lot of extra spending on things that aren't necessities right now because we are uncertain about where things are going. And at home, she's changed her spending habits. And when something she needs at the salon goes on sale, Krenz does not wait. The price of a tube of hair color is up a dollar, maybe $1.25. Krenz says they've gotten more expensive. GURA: So business is slower, and it's been hard to get supplies. LINDSEY KRENZ: People are maybe spacing their appointments out, not coming in as frequently as they used to, but they are still coming in. And while she's aware of how the broader economy is doing, her sense of it is shaped by what's in her appointments book. NPR's David Gura reports.ĭAVID GURA, BYLINE: Lindsey Krenz owns a hair salon in Jamestown, N.D. There's little question Americans are feeling pressure from slowing growth, rising prices and high interest rates. Economists and politicians are debating whether that means a recession is, in fact, underway.
economy contracted for the second quarter in a row. A new report card on the economy is fueling fears that the United States is in a recession.
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