Talk of “recession” up 115% among Twitter influencers in the last three months

Recession fears have social media all a-twitter.

Indeed, Twitter TWTR,
Conversations from influencers about a possible recession have been increasing since the beginning of the year, according to a new GlobalData report. And they’re up 115% in the second quarter (between April and June) compared to the first quarter of 2022 between January and March.

GlobalData’s social media analytics platform tracks the activity of selected Twitter influencers and Reddit channels. And the report noted that the most significant spike in influencer “recession” discussions occurred over the past week, coinciding with the Federal Reserve Board’s biggest rate hike since 1994.

Twitter influencer discussions about the “recession” have increased in 2022.

Global data

“’Recession’ also saw a 126% increase in negative sentiment sequentially as influencers worry about the possibility of an economic recession due to increasing pressure on the global economy with rising interest rates, supply chain disruptions and rising inflation rates. ‘ GlobalData social media analyst Smitarani Tripathy said in a statement.

It should be noted that it was unclear what criteria GlobalData used to identify “influencers” and the company was not immediately available for comment. But the report included tweets from financial analysts, professors and journalists, including Charles Schwab’s SCHW,
chief investment strategist Liz Ann Sonders and political economist Richard Murphy.

The hashtag #recession has also been trending on Twitter at times over the past few weeks, including on the morning of June 14, the day before the Fed meeting. A Twitter representative told MarketWatch that the site has seen more than 1 million tweets containing the word “recession” since Jan. 1 this year. Twitter saw a spike in “recession” conversation volume on June 16, the day after the last Fed meeting, and also on May 24.

“Recession” was also a popular topic and Meme generator in Reddit groups like WallStreetBets. Google GOOGL,
Searches for the topic “recession” have also increased over the past 90 days, according to data from Google Trends. And they peaked the day before the Fed’s June 15 meeting, when the board decided to raise the benchmark interest rate by 75 basis points to a range of 1.5% to 1.75% in a bid to curb inflation, which a reached a 40-year high.

Google searches for “how will a recession affect the average person” also rose 180% over the past week, according to Google Trends data, and the search query “will there be a recession in 2023” more than tripled in the same window.

The recession babble has also revolved around what financial decisions people should be making now, with top searched Google queries including “should I…before a recession” including “should I buy a house?”. and “Should I sell my house?” — as well as questions about whether people should take their money out of the bank, cash out their 401(K)s, or change their 401(K) investments.

Continue reading: Don’t panic about your 401(k)

If you’re worried about the Fed’s rake levels, take a deep breath and read these three smart financial steps to take right now related to your debt, big purchases, and savings accounts.

These weekend reads can also serve as a guide to navigating the stock, crypto, and real estate bear market. Talk of “recession” up 115% among Twitter influencers in the last three months

Brian Lowry

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