• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Goldman cuts forecast for U.S. economic growth in 2021 and 2022

October 10, 2021 by David Barret Leave a Comment

October 10, 2021

(Reuters) – Goldman Sachs cut its U.S. economic growth target to 5.6% for 2021 and to 4% for 2022 citing an expected decline in fiscal support through the end of next year and a more delayed recovery in consumer spending than previously expected.

The firm previously expected 5.7% gross domestic product (GDP) growth in 2021 and 4.4% growth in 2022, according to research released on Sunday from authors including its chief economist Jan Hatzius.

They pointed to a “longer lasting virus drag on virus-sensitive consumer services” as well as an expectation that semiconductor supply likely will not improve until the first half of 2022, delaying inventory restocking until next year.

And on top of the near-term virus drag, they also expect spending on some services and non-durable goods to stay persistently below pre-pandemic trends especially “if a shift to remote work results in some workers spending less overall.”

On a quarterly basis Goldman cut both its fourth-quarter 2021 and first-quarter 2022 GDP estimates to 4.5% from 5% and shaved its second quarter 2022 estimate to 4% from 4.5% while reducing its third quarter estimate to 3% from 3.5%.

However, it increased its fourth-quarter 2022 estimate to 1.75% from 1.5%.

(Reporting by Sinéad Carew; Editing by Lisa Shumaker)

Source Link Goldman cuts forecast for U.S. economic growth in 2021 and 2022

David Barret
David Barret

Related posts:

  1. Advanced rider assistance systems: Tech spawned by the politics of micromobility
  2. Analysis-Evergrande woes to take toll on China property sale and drive M&A
  3. AI tradeoffs: Balancing powerful models and potential biases
  4. South Africa should not rush its transition away from coal, minister says

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • The First Molecules In The Universe Reveal Surprises After Being Bombarded With Deuterium
  • Meet Henry, The World’s Largest Elephant Ever Recorded, Who Was Heavier Than A T. Rex
  • HTLV-1: The Deadly Virus No One Talks About
  • Inland Taipan: The Deadliest Snake In The World?
  • Four New Species Of Tarantulas Discovered With Longest Known Schlongs In The Spider World
  • Voyager Will Reach A Hypothetical Region In 300 Years – And Will Take 30,000 Years To Go Through It
  • Oh No, Wavy Dave! Robot Crustacean Waves At Fiddler Crabs For Science, Has A Bad Time
  • This Small Tweak To Brain Chemistry May Have Given Homo Sapiens The Competitive Edge
  • “This Is Illegal”: NASA Reportedly Ordered To Destroy Important OCO Satellite
  • What Is Stendhal Syndrome? The Curious Condition Where Panic Attacks Meet Art
  • Meet Scotty, The Biggest T. Rex Ever Found Aka The “Rex Of Rexes”
  • Australian Skinks Have Evolved Snake Venom Resistance 25 Times (Give Them A Break, Snakes)
  • Curiosity Turns 13: Why Curiosity Stopped Singing Itself Happy Birthday
  • The Talipot Palm Produces 24 Million Flowers, “The Most Prolific Sexual Spectacle Of The Plant Kingdom”
  • Fibermaxxing: Valid Health Hack Or A Fast Pass To Flatulence?
  • Spanish Flu Genome Resurrected From 107-Year-Old Lung, Revealing Deadly Mutations
  • A NASA Nuclear Reactor On The Moon? Bold Proposal Is Unfeasible By 2030 – Here’s Why
  • Giant Virus With Longest-Ever Tail Lurks In The Pacific Ocean
  • This Danish Zoo Wants You To Donate Your Pets To Feed Its Predators
  • An “Unknown Biogeographic Barrier” Stops Deep-Sea Jellyfish Crossing The Atlantic
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version