Goldman Sachs cuts its US GDP forecast: 5.6% y/y for 2021 (vs. 5.7% previous)

A Sunday note via Goldman Sachs with cuts to their economic growth forecasts for the US this year and next:

• GS expect growth of 5.6% y.y for 2021 (prior estimate was 5.7%)
• 4% for 2022 (prior 4.4%)

Citing:                          

• we now expect a more delayed recovery in consumer spending
• longer-lasting virus drag on virus-sensitive consumer services spending
• supplies of semiconductor chips not improving until H2 2022
• this will postpone inventory restocking (hence less of this into the GDP number)

Invest in yourself. See our forex education hub.


October 11, 2021 at 07:52AM
Eamonn Sheridan
https://ift.tt/30fozBZ