×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: goldman | economic | growth | forecast | stimulus

Goldman Halves US Growth Forecast to 3% on Lack of Extra Fiscal Stimulus

Goldman Halves US Growth Forecast to 3% on Lack of Extra Fiscal Stimulus
(Andrii Yalanskyi/Dreamstime)

Thursday, 24 September 2020 08:58 AM

Goldman Sachs Group Inc. economists halved their forecast for U.S. growth in the fourth quarter after deciding there will not be additional fiscal stimulus until next year.

The researchers led by Jan Hatzius now predict the world’s largest economy will expand 3% on a quarterly annualized basis, down from the 6% they previously anticipated.

“It is now clear that Congress will not attach additional fiscal stimulus to the continuing resolution,” they said in a report. “This implies that after a final round of extra unemployment benefits that is currently being disbursed, any further fiscal support will likely have to wait until 2021.

“The withdrawal of stimulus will reduce disposable income to the pre-pandemic level, weighing on consumer spending, they said.Slower growth will leave “more room for catch-up later.”

This means they now see the economy growing 5.8% in 2021 after a 3.5% contraction this year.

© Copyright 2022 Bloomberg News. All rights reserved.


StreetTalk
Goldman Sachs Group Inc. economists halved their forecast for U.S. growth in the fourth quarter after deciding there will not be additional fiscal stimulus until next year.
goldman, economic, growth, forecast, stimulus
145
2020-58-24
Thursday, 24 September 2020 08:58 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved