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3/15, 8:53 PM (Source: TeleTrader)
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Goldman Sachs downgrades forecast on US GDP

The Goldman Sachs Group, Inc downgraded forecast on United States real gross domestic product (GDP) growth in the first quarter to 0% from 0.7% due to coronavirus outbreak. In the second quarter, GDP was downgraded to -5% from 0%.

Earlier this month, the Federal Reserve Bank of New York predicted a 1.00 percentage point drop in GDP growth in the second quarter of 2020

In February, the GDP of the United States grew at a 2.1% rate in the final quarter of 2019, remaining unchanged compared to the previous three months and confirming the expectations

Breaking the News / TF