Should i wait with investing?

I am investing some of my extra cash each month (500 euro) into ETFs for long term gain.

I feel like the economy is slowing down a lot with easy investments drying up and companies having to actually turn a profit now. Alongside the rising costs of living, it seems like a recipe for economic slow down or even recession.

Should i pause my investments, saving up the money, and hope to be able to buy at a lower price in some months or year. Or are my observations completely wrong?