JPMorgan Chase & Co. has raised its estimate of the likelihood of a U.S. recession by the end of 2024 to 35%, up from 25% at the beginning of July. The adjustment follows recent data indicating a sharper-than-expected decline in labor demand and initial signs of job cuts, according to a note from JPMorgan economists led by Bruce Kasman.
The economists maintained their prediction of a 45% chance of a recession occurring by the second half of 2025, Bloomberg reported.
