Goldman lowers economic outlook as U.S. copes with rising coronavirus cases


Medical workers prepare to intubate a coronavirus disease (COVID-19) patient at the United Memorial Medical Center’s coronavirus disease (COVID-19) intensive care unit in Houston, Texas, U.S., June 29, 2020.

Callaghan O’Hare | Reuters

Rising coronavirus cases will limit growth in what will be an otherwise robust third-quarter rebound in the U.S., according to Goldman Sachs.

The bank’s economists now see third-quarter gross domestic product rising by 25% on an annualized basis. That’s down from the initial estimate of 33%, with the reduction due primarily to concerns that increasing virus cases in states such as Florida, Texas and Arizona will slow the pace of reopening.

“The sharp increase…


Levi Strauss, AMC, Disney and more

Previous article

We will pressure governors to reopen schools amid coronavirus

Next article

You may also like

Leave a Reply

Notify of

More in Economy