Chart showing MBA's forecast for a recession has shifted to a brief downturn in the middle of the year.

Ignoring a potential U.S. default on its debts and other dangers, the economy continues to supply occasional pleasant surprises.

Take the Mortgage Bankers Association's latest forecast, which still shows two back-to-back quarters of decline in gross domestic product. While the MBA told CU Times Tuesday it is "still predicting a mild to moderate recession for later in 2023," the numbers it forecast might barely qualify.

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Jim DuPlessis

A journalist for decades.