Wall Street raises expectation of U.S. recession next year: Reuters

Mon, 04 Jul 2022

Wall Street raises expectation of U.S. recession next year: Reuters

Xinhua
24 Jun 2022, 02:05 GMT+10

LONDON, June 23 (Xinhua) -- Economists from Wall Street giants including Goldman Sachs and Morgan Stanley have forecast a higher possibility of a recession in the United States over the next year, Reuters reported.

"Goldman Sachs forecast a 30 percent chance of the U.S. economy tipping into recession over the next year, up from 15 percent earlier, following record-high inflation and a weak macroeconomic backdrop due to the Ukraine conflict," a report by Reuters said on Tuesday.

Economists from Morgan Stanley on Tuesday also put the odds of a recession in the coming 12 months at about 35 percent, it said.

For the next two years, Goldman predicted a 48 percent cumulative probability of a recession, up from its previous forecast of 35 percent, according to the report.

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