Economy

Economic growth will be better than expected thanks to the resilient services sector, Goldman says

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Teresa Nguyen, a respiratory therapist, goes over a patient’s charts inside a room for people with the coronavirus disease (COVID-19) at a hospital in Hutchinson, Kansas, November 20, 2020.

Callaghan O’Hare | Reuters

The U.S. economy will recover faster than expected in part because the sectors most susceptible to the most recent coronavirus spread aren’t taking as severe a hit, according to Goldman Sachs.

Separate analyses the firm has published over the past several days indicate a fairly strong growth path ahead. GDP in 2021 is projected to increase 5.3% compared to a 2020 drop of about 3.5%.

Economists have been worried that the aggressive spread of Covid-19 cases will exact an…



Source cnbc.com

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