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JP Morgan Chase Says US has 80% Chance of Stepping into Recession in 3 Years
November 12, 2018
Global financial services firm JP Morgan Chase said that the odds of the US stepping into a recession is quite high in the next few years. It said that there is a 26% probability of that in the next year, over 60% in the next 2 years, and over a whopping 80% in the next 3 years.
JP Morgan considered a variety of factors to deduct the estimates including compensation growth, labor participation, consumer and business sentiment, etc.
Apart from JP Morgan, the Federal Reserve Bank of New York also said that there is a 14.5% possibility of the US stepping into a recession within the next year.
Photo credit: kenteegardin on Visual hunt / CC BY-SA
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