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Goldman Sachs estimates it will be lower than previous records

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March 16, 2023 9:31 AM.

Goldman Sachs Group Inc. It raised its estimate of the likelihood of a recession in the United States to 35% within the next 12 months In response to growing uncertainty about the economic impact of banking pressures. The new estimate is still below the average of 60% of economists surveyed by Bloomberg.

(Read: Credit Suisse is recovering in the stock market after support from the Swiss Central Bank)

Equity indicators of activity growth for Baldman Sachs remain positive, with the trade survey tracker average 52 expanded slightly in February, with the dividing line at 50Hatzius said in a research note.

Goldman’s real-time estimate of employment data suggests this The layoff rate increased slightly, although it was still down at 1.2%.While the gap between jobs and workers narrowed to remain above the level of 2 million, which economists estimate is necessary to “restore balance to the labor market.”

(See: Credit Suisse Requests $54,000 Million from the Swiss Central Bank)

Global investors have become very sensitive to the possibility of systemic financial stress, concerns exacerbated by the crisis of confidence in Credit Suisse Group AG. in response, Swap traders brought rate cut expectations forward by the Federal Reserve.

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