Goldman Sachs slashes US GDP 2022 from 3.8% to 3.4%

Anil Panchal FXStreet

In its latest US GDP forecasts, Goldman Sachs (GS) cuts the year 2022 predictions to 3.4% from 3.8% previous estimations.

The diminishing expectations for fiscal stimulus and the spread of the Omicron variant are the likely two main causes cited by GS for the GDP downgrade.

It’s worth noting that the US bank expected the year 2021 GDP to be around 5-6%.

Although the latest US GDP forecasts are grim, the figures stay above GS's 1.75% estimate of trend growth.

Read: This Week In Markets: Chinese GDP data is expected to slow further in Q4

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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