NEW YORK, May 30 (Reuters) - Goldman Sachs ( GS ) President

John Waldron said on Thursday that equity capital markets are

recovering at a slower clip than debt markets.

"Equity capital markets is clearly improving, but it's been

much, much lower," he told investors at a conference. Current

ECM volumes stand at about a 30% discount to the 10-year

average, he said.

By contrast, debt capital markets have been strong all year,

and "we expect that to continue," he added.

In trading, volumes have declined in the second quarter

compared with the first, Waldron said.