Goldman Sachs is becoming increasingly pessimistic about the US economy
A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here.London Goldman Sachs is becoming increasingly pessimistic about the US economy as coronavirus support from the government phases out and consumer spending remains on an uncertain path.
What's happening: Over the weekend, the Wall Street bank downgraded its forecast for America's economic growth, which is closely monitored by the investment community. Goldman Sachs now expects the economy to expand by 5.6% this year, compared to a previous estimate of 5.7%. In 2022, growth is projected to expand by 4%, down from 4.4%.It's the second time Goldman Sachs has revised its 2021 forecast lower in two months.
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