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Wall Street raises expectation of US recession next year: Reuters

Xinhua | Updated: 2022-06-24 11:00
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A Wall Street sign is seen outside of the New York Stock Exchange during morning trading on June 8, 2022 in New York City. [Photo/Agencies]

LONDON - 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 US 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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