Probability of Global Recession Nearing 50 Percent: Citigroup Economists

Probability of Global Recession Nearing 50 Percent: Citigroup Economists
A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan in New York City on Dec. 5, 2012. Mario Tama/Getty Images
Katabella Roberts
Updated:

Citigroup economists have forecast the chance of a global recession nearing 50 percent as central banks hike interest rates and consumer demand for goods drops off.

“The experience of history indicates that disinflation often carries meaningful costs for growth and we see the aggregate probability of recession as now approaching 50 percent,” economists led by Nathan Sheets said in a report on Wednesday.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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