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Goldman Sachs cuts probability of US recession in next 12 months

2023-07-17 23:55
NEW YORK Goldman Sachs' Chief Economist Jan Hatzius said on Monday the bank was cutting its probability that
Goldman Sachs cuts probability of US recession in next 12 months

NEW YORK Goldman Sachs' Chief Economist Jan Hatzius said on Monday the bank was cutting its probability that a U.S recession will start in the next 12 months to 20% from an earlier 25% forecast.

"The main reason for our cut is that the recent data have reinforced our confidence that bringing inflation down to an acceptable level will not require a recession," he said in a research note.

(Reporting by Davide Barbuscia)