Twitter influencers’ discussions around ‘Recession’ spiked by 115% in Q2 2022, finds GlobalData

Twitter influencers’ conversations around ‘Recession’ have been continuously rising since the beginning of 2022 and recorded a 115% rise in Q2 (Apr-Jun*) 2022, over the previous quarter, according to leading data and analytics company GlobalData’s Social Media Analytics Platform.

The significant spike in influencers’ discussions on ‘Recession’ was noticed in the third week of June, when the US Fed raised the interest rates by 0.75%, the highest increase since 1994, to tame the mounting pressure of inflation, which reached the highest level in four decades.

Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “‘Recession’ also witnessed a 126% rise Quarter-on-Quarter (Q-o-Q) in negative sentiments as influencers are concerned about the possibility of an economic recession due to mounting pressure on the global economy with rising interest rates, supply chain disruptions and soaring inflation rates.”

Below are a few of the most popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:

  1. Liz Ann Sonders, Chief Investment Strategist, Charles Schwab & Co.:

“Probability of a U.S. recession (based on 2s10s yield curve per @Economics) has risen to highest since February 2007”

  1. Victoria Guida, Economics reporter at POLITICO:

“The Fed is poised to send a message that it has the worst inflation in 40 years under control. But the signal that many investors & economists are taking from the central bank is less reassuring: A recession could come as early as this year.”

  1. Will Meade, Individual Analyst:

“Consumer spending is 70% of the US economy. Consumers have little to no discretionary income bc of high food and gas prices plus slow to no wage growth. Therefore how does the economy not end in a recession if we aren’t already there”

  1. Richard Murphy, Professor of Accounting Practice, Sheffield University :

“The Bank of England has increased base rates to 1%, guaranteeing we are heading for a recession in the UK and showing that the Bak and the government have no idea what to do about it.”

  1. Robin Brooks, Professor of Economics and C. Marks Professor

“We’re on the brink of global recession. True growth this year is -0.1% (blue) after separating out a big statistical base effect of +2.3% (red). Global GDP is flatlining, pulled down by Euro zone recession & China lockdowns, and now data in the US are starting to really tumble…”

  1. Jullian Jessop, Independent Economist

“Based on the precedents in 2002 and 2012, monthly #GDP will probably fall by around 2%, equivalent to a hit of around £4 billion. This is also likely to be enough to ensure that UK GDP contracts in the second quarter as a whole (April-June), encouraging talk of ‘#recession’…”

*As of Jun 17, 2022

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