Long-time stock market bull Jeremy Siegel is growing more concerned about the potential for an economic recession.including a drop in job openings, a rise in jobless claims, and softness in the manufacturing sector.it did show one concerning sign, according to Siegel: a decline in the number of weekly hours worked.
The decline in hours worked last month offset the surge that was seen in January, which points to a growing softness in the labor force, Siegel warned. "We will not get until the next 4-6 weeks really a lot of data about the effect of the banking crisis. That does concern me and keeps me defensive going forward in terms of a recession," he added."I'm just saying that my feeling is the probability of a recession has gone up."
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