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.
Goldman Sachs’ Predictions
Two major global investment banks, Goldman Sachs and JPMorgan, released reports Wednesday, independently predicting an impending recession in the euro area.
Goldman Sachs’ analysts, led by chief European economist Jari Stehn, expect a euro-area recession in the second half of this year that will last until the end of the year. They are also predicting a contraction of 0.1% in the third and 0.2% in the fourth