Home Industry News How Bad Would a Recession Be for Hollywood?
Everyone from Jeff Bezos to Gwyneth Paltrow is talking about the likelihood of a deepening recession, with the Amazon founder advising Twitter followers on Oct. 19 to batten down the hatches and the Goop CEO confessing late- night worries about the economic outlook a few days earlier. Technically, the U.S. economy entered recession territory midyear, following the second straight quarter of decline in gross domestic product. But the economy has rallied in the past following such declines, leading some to argue we aren’t yet in a recession; the glass-half-full crowd points to low unemployment even amid rising inflation as an indicator we aren’t in such bad financial straits.