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. \u201cA combination of tighter state restrictions and voluntary social distancing is already having a noticeable impact on economic activity,\u201d the economists said. In the meantime, the economists still maintained that next year\u2019s expected GDP growth rate would be 5.8 percent. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
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 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-130754","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n