Ask HN: Onlook on Contracting in a Recession

I'm a software engineer working as a contractor with my own Ltd company. I'm based in Europe (Ireland), and since all signs indicate that we will be in a recession by autumn or by the latest by winter, I was wondering if I should expect less contract opportunities during a recession, or about the same (or even more). Should I consider moving back to permanent? Is contracting riskier during a recession? I feel like Cassandra in that I can see the dark clouds of a recession looming in the near future but I don't know what can I do to prepare for that to weather the storm. Any fellow contractors have been contracting during a previous recession can give some insights?