Economists at financial giant Goldman Sachs have raised the likelihood of a recession in the United States in the next 12 months from 15 percent to 25 percent, according to a report to its clients on Sunday.
The 10-percentage-point hike is higher than their previous forecast.
The report also says that the U.S. economy seems to be "fine overall," with no major financial imbalances.
It also notes the Federal Reserve has ample room for rate cuts, adding the central bank would take quick action when necessary.
On last Friday, the U.S. Bureau of Labor Statistics released its latest jobs report that showed the U.S. unemployment rate rose by 0.2 percentage points to 4.3 percent in July, the highest level since October 2021, and the job growth slowed to 114,000.
Goldman Sachs raises US recession likelihood to 25 percent: report
Goldman Sachs raises US recession likelihood to 25 percent: report
The Palestinian death toll from ongoing Israeli attacks on the Gaza Strip has risen to 41,272, Gaza-based health authorities said in a statement on Wednesday.
During the past 24 hours, the Israeli military killed 20 people and wounded 54 others, bringing the fatalities to 41,272 and injuries to 95,551 since this round of conflict broke out in early October 2023, it added.
Gaza’s civil defense agency reported on Wednesday that eight persons, including five children, were killed when Israeli bombed a school-turned-shelter for displaced Palestinians in Gaza City in the northern part of the war-ridden enclave, which also caused many injuries.
The Israeli military said in a statement that the airstrike targeted Hamas militants hidden inside the school.
In addition, an Israeli drone struck a civilian car in Rafah city in the southern Gaza Strip on Wednesday, killing two people and injuring 11 others, according to Palestinian security sources.
Israel announced on the same day that four more soldiers were killed in clashes in Rafah.
Palestinian death toll in Gaza rises to 41,272 as conflict grinds on
