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  "documentTitle": "ey global economic outlook july 2023",
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  "authorName": "EY Parthenon",
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      "text": "These factors could certainly make one hopeful of an immaculate soft landing, where the economy cools just enough to bring inflation down to a sustainable pace of 2% without leading to a recession.",
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      "text": "Consumer and corporate balance sheets remain generally healthy, even if some cracks are starting to appear. Households' excess savings are still elevated.",
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      "text": "These factors could certainly make one hopeful of an immaculate soft landing... we still believe a recession is more likely than not, but we have lowered our recession odds to 50%.",
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      "text": "There is scope for hope in this unique business cycle. Unlike in prior downturns, business executives have proven reticent to dispose of the pool of talent they struggled to hire, train and retain post-pandemic.",
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      "text": "Simultaneously, the need to address supply shortages across the economy has supported robust construction activity and prevented a severe manufacturing pullback.",
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      "text": "Unemployment rate: 4.5%",
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      "text": "We anticipate an ongoing slowdown, but no retrenchment in economic activity, with the unemployment rate rising toward 4.5% and inflation cooling toward 2% in 2024",
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