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- Goldman Sachs slashes Europe's fourth quarter growth forecasts
Goldman Sachs slashes Europe's fourth quarter growth forecasts
Reuters reports that Goldman Sachs sharply cut Europe's fourth quarter economic forecasts as a surge in COVID-19 cases led to major countries announcing partial nationwide lockdowns for November.
Goldman Sachs said it expects the euro area's real GDP to shrink 2.3% in the fourth quarter, a sharp reversal from its earlier projection of 2.2% growth.
Similarly, it cut UK GDP growth forecasts to minus 2.4% from a 3.6% expansion it had earlier expected.
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