GOLDMAN SACHS LOWERS ODDS OF US RECESSION TO 20% FROM 25%

Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months to 20% from 25% following the latest weekly jobless claims and retail sales. Earlier this month, the brokerage raised the odds of a U.S. recession from 15% after the unemployment rate jumped to a three-year high in July, sparking fears of a downturn.

Thursday's jobless claims showed number of Americans filing for unemployment benefits dropped to a one-month low in the previous week, while separate data revealed on the day that retail sales increased by the most in 1-1/2 years in July.

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