Houston | The likelihood of a US recession in the next 12 months rose to 35 per cent in an August survey of economists, from 31 per cent forecast previously, as global trade tensions fuel economic uncertainty.

Growth in the world's biggest economy will average 2.3 per cent this year, down from 2.5 per cent seen in a July survey. Gross domestic product expansion is forecast to slow to a 1.8 per cent annualised pace in the third quarter, from 3.1 per cent in the first three months of the year and 2.1 per cent in the second quarter. Economists see the US entering its next recession in 2021.

Bloomberg