This summer has seen policies and economic forecasts move in see-saw fashion, as state economies opened up, restrictions were lifted – and then the dreaded ‘second wave’ of COVID-19 showed signs of appearing, prompting new lockdowns in California and a mask mandate in Texas. Investment bank Goldman Sachs, which had been forecasting a gangbusters growth rate of 33% in Q3, now sees the economy beginning to slow. The firm is guiding toward 25% growth in third quarter, and a July-August ‘pause’ in consumer services.Still, according to Goldman’s chief economist Jan Hatzius, “The recent declines are minor compared to the collapse …read more
Source:: Yahoo Finance
