Goldman Sachs Group Inc. economists have revised down their estimates for the 2020 US economic growth rate to -4.6% from the previous forecast of -4.4%. Consumer spending is likely to stall in July and August due to state-imposed restrictions to combat the coronavirus, economists led by Jan Hatzius said, according to Economic Times. “A combination of tighter state restrictions and voluntary social distancing is already having a noticeable impact on economic activity,” the economists said in a report published on Saturday. Economists at Goldman Sachs, however, expect the economy to regain poise in the third quarter and expand by 5.8% in 2021. In addition, the investment bank sees the jobless rate at 9% at the end of 2020 compared to the previous forecast of 9.5%. 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. View All Post By FX Street FXStreet News share Read Next AUD/USD extends six-day gains above 0.6900 amid upbeat second-tier data, risk-on mood FX Street 3 years Goldman Sachs Group Inc. economists have revised down their estimates for the 2020 US economic growth rate to -4.6% from the previous forecast of -4.4%. Consumer spending is likely to stall in July and August due to state-imposed restrictions to combat the coronavirus, economists led by Jan Hatzius said, according to Economic Times. “A combination of tighter state restrictions and voluntary social distancing is already having a noticeable impact on economic activity," the economists said in a report published on Saturday. Economists at Goldman Sachs, however, expect the economy to regain poise in the third quarter and expand by 5.8%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
