SINGAPORE—Goldman Sachs analysts downgraded their forecasts for U.S. economic growth for this year, reckoning that spikes in oil and other commodities since Russia’s invasion of Ukraine will hurt spending.
The investment bank cut its annualized growth forecast to 2.9 percent against a previous expectation of 3.1 percent. It expects fourth-quarter real gross domestic product growth of 1.75 percent against a previous forecast of 2 percent.
