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Goldman Sachs expects the US will avoid a recession next year with growth of 1%, which is more optimistic than the consensus view of 0.4%, while tipping a European recession and bumpy reopening in China to drag global growth to 1.8%.
The investment bank estimates a 35% possibility that the US economy will enter a recession over the next 12 months.
"Our disagreement with consensus is even more visible when we focus on recession probabilities," Goldman said.
Dow Jones US Mining Index down 29%
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