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- US: Real GDP to contract by 24% in Q2 2020 – Goldman Sachs
US: Real GDP to contract by 24% in Q2 2020 – Goldman Sachs
FXStreet reports that in the latest forecast report released on Monday, the Goldman Sachs analysts predict real GDP in advanced economies to contract very sharply in Q2 2020, including a 24% drop in the US.
"Expects global real GDP to contract by about 1% in 2020, weaker than year following 2008 Global Financial Crisis (GFC).
Based on partial count of state releases, estimates 2¼ million Americans filed an initial jobless claim last week.
The coronacrisis - or more precisely, the response to that crisis - represents a physical (as opposed to financial) constraint on economic activity that is unprecedented in postwar history."
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