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.

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)
A Sunday note via Goldman Sachs with cuts to their economic growth forecasts for the US this year and next:
Invest in yourself. See our forex education hub.