“Goldman Sachs”: US economy to grow 25%

Goldman Sachs Group Inc. economists revised down their estimates for the US economy this quarter, but predicted it would be back on track in September after some states imposed new restrictions to combat the coronavirus, Report informs, referring to Economic Times. 

The economists said they now expect the economy to grow 25% in the third quarter, having earlier predicted 33%. That would result in the economy slumping 4.6% this year, worse than the 4.2% previously seen.

But the Goldman Sachs economists said they still expected growth of 5.8% next year and now project unemployment will be at 9% at the end of this year, down from the previous estimate of 9.5%.