Bank Of America Retracts Recession Forecast, Citing Strong Job Market And Consumer Spending

In view of the Bank of America building in Baltimore, MD, a man participates in Occupy Baltimore October 7, 2011, supporting the Wall Street protestors who are against corporate greed, the continued divide between rich and poor to name a few. (KEN CEDENO/GETTY IMAGES)

Bank of America Corp (NYSE:BAC) has retracted its earlier forecast of an impending recession, citing a robust job market and vigorous consumer spending as the primary reasons.

In view of the Bank of America building in Baltimore, MD, a man participates in “Occupy Baltimore” October 7, 2011, supporting the Wall Street protestors who are against corporate greed, the continued divide between rich and poor to name a few. (KEN CEDENO/GETTY IMAGES)