Recession odds rise as economists cut growth estimates


 
 
03:19 08/08/2019











Original Article.



The likelihood of a U.S. recession in the next 12 months rose to 35% in an August survey of economists, from 31% forecast previously, as global trade tensions fuel economic uncertainty.  Growth in the world’s biggest economy will average 2.3% this year, down from 2.5% seen in a July survey.



Gross domestic product [GDP] expansion is forecast to slow to a 1.8% annualized pace in the third quarter, from 3.1% in the first three months of the year and 2.1% in the second quarter.



“Trade tensions are needlessly roiling financial markets, which could eventually destabilize a stable economy,” Parul Jain, chief investment strategist at Macrofin Analytics LLC in Wayne, New Jersey, said in comments attached to her survey response.



To read more on this developing story from Bloomberg, click here.





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