Goldman Sachs and JPMorgan have updated their economic forecasts and are now predicting an imminent recession in the euro area. inflation
Global investment banks Goldman Sachs and JPMorgan have predicted an imminent recession in the euro area. “The risks to our forecast are skewed toward a sharper recession in the event of an even more severe disruption of gas flows, a renewed period of sovereign stress or a U.S. recession,” said the economists at Goldman Sachs.Two major global investment banks, Goldman Sachs and JPMorgan, released reports Wednesday, independently predicting an impending recession in the euro area.
“Looking across countries, we have Germany and Italy in clear recession in the second half, while Spain and France continue to grow,” the Goldman Sachs economists detailed, elaborating: The economists highlighted some reasons for the downturn, including a looming gas crisis and Italy’s political troubles that could delay the disbursement of European Union aid.In a note published Wednesday, JPMorgan warned that the eurozone will be in a mild recession by early next year. The bank’s economists have cut their economic forecasts. They are now predicting a GDP growth in the eurozone of 0.5% this quarter, followed by a contraction of 0.
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