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But he said his company was not projecting a recession, which is defined as two consecutive quarters of declining gross national product, the total output of the nation's goods and services.
Im not projecting a recession next year, just a slowdown with broader earnings disappointments.
Several economists are now projecting a recession that could last well into 2019.
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"The Treasury is projecting a technical recession.
Monetary stimulus is starting to get through to the real economy again, with leading indicators projecting an imminent end to recession.
Right now, no immediate recession is in sight and, as Robert Shiller, the Yale economist, recently wrote, economists have a miserable track record in projecting recessions a year in advance.
Martin Shubik, a professor of mathematical institutional economics at Yale, has proposed creating a "Federal Employment Reserve Authority," a permanent agency that would do extensive research and maintain a detailed list of ready-to-go public works projects should a recession come.
The prediction by the National Assn. of Business Economists differs sharply from economic expectations of the Reagan Administration, which is projecting no recession through 1990.
By the time the state had fended off 47 lawsuits brought against the project, a severe recession in 1991 brought the city to its knees.
In the best light, Sporting KC's owners were desperate to get a large stadium project done during a recession.
That outlook includes a recession projected to continue until the second half of the year.
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