US: Real GDP to contract by 24% in Q2 2020 – Goldman Sachs
|In the latest forecast report released on Monday, the Goldman Sachs analysts predict real GDP in advanced economies to contract very sharply in Q2 2020, including a 24% drop in the US.
Key quotes
“Expects global real GDP to contract by about 1% in 2020, weaker than year following 2008 Global Financial Crisis (GFC).
Based on partial count of state releases, estimates 2¼ million Americans filed an initial jobless claim last week.
The coronacrisis — or more precisely, the response to that crisis — represents a physical (as opposed to financial) constraint on economic activity that is unprecedented in postwar history.”
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