Morgan Stanley sees half chance of US recession

Revised outlook: Gorman seen here participating in an interview. The finance guru has toned down his forecast and said that any downturn in the US economy is unlikely to be severe. — Reuters.

NEW YORK: There is a 50% chance the US economy will enter a recession though any downturn is unlikely to be severe, Morgan Stanley chief executive officer James Gorman said on Monday,

He did warning though of a “bumpy” ride ahead for investors.“It’s possible, probably 50-50 odds now,” Gorman told a conference hosted by the Wall Street bank, revising up his own forecast from last month when he told investors the likelihood of recession was less than 50%.