Finance

Bank of America raises chance of a recession to 1 in 3

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Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange.

Drew Angerer | Getty Images

Recession risk is rising, according to Bank of America.

Based on the most recent data, the bank’s global economist now sees a greater than 30% chance of a recession in the next year.

“Our official model has the probability of a recession over the next 12 months only pegged at about 20%, but our subjective call based on the slew of data and events leads us to believe it is closer to a 1-in-3 chance,” Bank of America’s head of U.S. economics Michelle Meyer said in a note to clients Friday. 

Uncertainty around the U.S.-China trade war and a global…



Source cnbc.com

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