Martin Vander Weyer Martin Vander Weyer

All forecasts are off if Iran shuts the Strait of Hormuz

issue 11 January 2020

Just when you thought it was safe to go back in the water… Late last year, a range of forecasts suggested that the likelihood of recession in the US, with knock-on effects for the rest of the developed world, had significantly diminished. Last summer, many economists were putting the chance of a substantial downturn at 50 per cent but by November, Goldman Sachs had marked it down to 24 per cent and Morgan Stanley to ‘around 20 per cent’.

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