Goldman Sachs cut its U.S. economic growth target to 5.6 percent for 2021 and to 4 percent for 2022 citing an expected decline in fiscal support through the end of next year and a more delayed recovery in consumer spending than previously expected.
The firm previously expected 5.7 percent gross domestic product (GDP) growth in 2021 and 4.4 percent growth in 2022, according to research released on Sunday from authors including its chief economist Jan Hatzius.
