“Fears that the trade war will trigger a recession are growing,” Goldman Sachs analysts said in a note Sunday.
The trade war with China is having a greater effect on the U.S. economy than expected, and the risk of recession is rising, Goldman Sachs Group Inc. said Sunday.
Goldman GS, -0.05% said it now expects a 0.6% drag on the U.S. economy due to trade-war developments, up from earlier estimates of 0.2%. “Fears that the trade war will trigger a recession are growing,” Hatzius said in the note. “Overall, we have increased our estimate of the growth impact of the trade war,” Hatzius wrote. “The drivers of this modest change are that we now include an estimate of the sentiment and uncertainty effects and that financial markets have responded notably to recent trade news.”
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