Goldman Sachs Cuts GDP Forecast, Warns of Economic Hit From Bank Rout

Goldman Sachs Cuts GDP Forecast, Warns of Economic Hit From Bank Rout
Goldman Sachs headquarters in New York, on Oct. 15, 2015. Mark Lennihan/AP Photo
Bryan Jung
Updated:
0:00

Goldman Sachs Group (GSG) slashed its U.S. GDP forecast on March 15 and warned of an economic hit from recent bank failures.

The investment bank raised its estimate of the odds of a U.S. recession occurring in the next 12 months to 35 percent, due to increased concern over the economic impact of stress in the banking sector.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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