Economy

Goldman Downgrades US GDP Forecast, Predicts More Downside Risk for S&P 500

Goldman Downgrades US GDP Forecast, Predicts More Downside Risk for S&P 500
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange in New York City on July 16, 2013. Brendan McDermid/Reuters
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

Investment banking giant Goldman Sachs has trimmed its forecast for U.S. economic output in 2022, predicting growth will stall early in the year due to fading fiscal support and the impact of the Omicron variant.

Goldman has cut its U.S. GDP forecast for all of 2022 to 3.2 percent from a previous projection of 3.8 percent, according to a note cited by Reuters.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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