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Citigroup sees chances of global recession nearing 50%

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Recession is an “increasingly palpable risk” for the economy, Citigroup analysts wrote in a note on Wednesday, while assessing the likely trajectory for global growth over the next 18 months.

Citigroup is forecasting a near 50% probability of a global recession, as central banks rush to raise interest rates to stamp out inflation that has been partly fueled by the impact of the Ukraine war and the COVID-19 pandemic.

Recession is an “increasingly palpable risk” for the economy, Citigroup analysts wrote in a note on Wednesday, while assessing the likely trajectory for global growth over the next 18 months.

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