Goldman Sachs Group Inc. (NYSE: GS) analysts said that there’s a 25% to 30% change that the U.S. will fall into a double dip recession in a research note to investors on Friday.
Goldman Sachs Senior U.S. Economist Ed McKelvey said, “as signs of slower U.S. growth have multiplied, market participants have become worried about the possibility of a double-dip recession…We think the probability is unusually high — between 25 percent and 30 percent — but we do not see double dip as the base case.”
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a global investment banking, securities and investment management company. The Company provides a range of financial services to customers, including corporations, financial institutions, governments and high-net-worth individuals. Its depository institution subsidiary, Goldman Sachs Bank USA (GS Bank USA), is a New York State-chartered bank. It operates in three segments: Investment Banking, Trading and Principal Investments and Asset Management and Securities Services. In March 2010, the Company’s subsidiaries sold the La Francia mine and related infrastructure assets, including Concession 5160, and Adromi Capital Corp., the holder of the La Francia II concession, to a subsidiary of The Goldman Sachs Group, Inc. In May 2010, Nexen Inc. sold its natural gas trading operations to a unit of The Goldman Sachs Group, Inc.
Shares of Goldman Sachs Group Inc. (NYSE: GS) traded down 0.54% hitting $148.68 during mid-day trading on Friday.
