Goldman Sachs Group Inc has downgraded its U.S. growth forecast for the first an...
) has downgraded its U.S. growth forecast for the first and second quarters in the wake of the economic fallout from the coronavirus outbreak.
In a note sent on Sunday, the U.S. bank said it now sees real gross domestic product growth of 0% in the first three months of the year, from its original estimate of 0.7% expansion. For the second quarter, it sees U.S. growth contracting to -5.0% from its initial forecast of 0%.“We expect U.S.
That said, the U.S. bank expects economic activity to recover after April, with strong growth in the second half.
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