Home Goldman Sachs has cut its 2020 global growth forecast
FXStreet News

Goldman Sachs has cut its 2020 global growth forecast

Goldman Sachs Research economists have cut their 2020 global GDP growth forecast to 1.25%, implying a recession worse than the one seen in 1991 and 2001 and less severe than in 1981-82 and 2008-09.

“As cases of the coronavirus spiral upward, disruptions to the global economy are increasing,” economists noted while revising growth forecasts lower. 

The investment bank now sees the US economy contracting by 5% in the second quarter and has slashed China’s first-quarter estimate to -9% year-on-year from +2.5% previously.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.