Goldman Sachs and BOFA Economist revise recession probability for the U.S.

The likelihood of a US recession in the next 12 months has decreased to 25%, according to Goldman Sachs. Other forecasters have also pushed the possible starting date for a downturn further out, towards the end of the year, and some even think the US is likely to avoid a recession altogether. Consumer spending has been bolstered by a strong job market and rising wages, which have helped counter rising prices and higher borrowing costs.