In its latest US GDP forecasts, Goldman Sachs (GS) cuts the year 2022 predictions to 3.4% from 3.8% previous estimations.

The diminishing expectations for fiscal stimulus and the spread of the Omicron variant are the likely two main causes cited by the GS for the GDP downgrade.

It’s worth noting that the US bank expected the year 2021 GDP to be around 5-6%.

Although the latest US GDP forecasts are grim, the figures stay above the GS 1.75% estimate of trend growth.

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