Goldman Sachs Analysts Lower US GDP Forecast

Goldman Sachs analysts worsened forecasts for the economic situation in the United States, saying that re-introducing restrictions due to the sharp increase in cases of COVID-19 across the country will put pressure on consumer spending.

According to the bank’s chief economist Jan Hatzius, the increase in consumer spending since mid-April will stop in July and August, as US authorities impose additional restrictions to suppress the spread of the virus.

Goldman Sachs experts expect the recession in the US economy this year to be 4.6%, rather than 4.2%, as previously expected. At the same time, analysts are still waiting for GDP growth of 5.8% in 2021.

At the same time, bank experts believe that economic activity in the United States is likely to recover in September this year.