Goldman Sachs Group cuts US growth forecasts for 2021 and 2022

Goldman Sachs Group Inc. economists cut their forecasts for U.S. growth this year and next, blaming a delayed recovery in consumer spending.  

Goldman’s team, led by Jan Hatzius, said in a report on Sunday that they now expect growth of 5.6% on an annual basis in 2021 versus their previous estimate of 5.7%, and 4% next year, down from 4.4%. The declines were mostly offset by upgrades to their projections for the following two years. 
                             

 “After updating our estimates of the key growth impulses that drive our