Tesla chief executive Elon Musk said a recession in the US 'is inevitable at some point” and' is more likely than not" in the near term.
The world's former richest man made the downbeat prediction while speaking to Bloomberg at the Qatar Economic Forum in Doha.
“As to whether there is a recession in the near term, that is more likely than not,” he said.
Musk is the latest in a growing chorus of commentators warning the US economy is set for a recession.
Goldman Sachs (NYSE:GS) economists earlier this year said they see a 30% probability of entering a recession within the next year, up from previous estimates of 15%.
Analysts at the investment bank also predicted a 25% probability of entering a recession in the second year should one be avoided in the first.