The risk of an economic recession in the United States has grown to the highest level in seven years, according to a survey by economists.
There is now a 25 percent chance of a recession within the next 12 months, the highest level since October 2011 and up from just 13 percent last year, a monthly poll of economists conducted by The Wall Street Journal found.
The growing risk of a recession came from a slew of worries including US trade tensions with China, rising interest rates and the sharp stock market selloff, the survey revealed.
The massive equity sell-off in December on Wall Street led to the US stock market’s worst year since the financial crisis in 2008.
The Journal surveyed 73 economists from January 4- 8.
The economic outlook for 2020 is even dimmer with 56 percent of the economists foreseeing a downturn.
About 84 percent of the economists predict a worsening US economy, which is about the same level in December but higher…