NEW YORK: Global investment management firm Goldman Sachs has lowered its forecast for the U.S. economy in a report, saying it would grow at 25 percent in the third quarter of this year rather than its previous forecast of 33 percent. Goldman Sachs Group Inc. economists said this would cause the U.S. economy to slump 4.6 percent this year, worse than the 4.2 percent previously predicted. “A combination of tighter state restrictions and voluntary social distancing is already having a noticeable impact on economic activity,” the economists said. In the meantime, the economists still maintained that next year’s expected GDP growth rate would be 5.8 percent. TLTP
