Morgan Stanley pares U.S. recession view to 25 percent
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FILE PHOTO: The Morgan Stanley logo is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 19, 2017. REUTERS/Brendan McDermid
NEW YORK (Reuters) - Morgan Stanley economists said on Wednesday they reduced their estimate on the probability of a U.S. recession in the next 12 months to 25 percent from 30 percent due to signs of stronger global growth and a delay in U.S. tax reform.
"A stronger global backdrop and the delayed promise of tax reform have lowered this assessment from 30 percent previously," Morgan Stanley economists Ellen Zentner and Michel Dilmanian wrote in a research note.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
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