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Goldman Cuts U.S. Growth Forecast on Signs Recovery Has Stalled

Goldman Sachs Group Inc. lowered its forecast for U.S. economic growth in 2011 on signs the recovery in the world’s largest economy lost momentum.

The U.S. will expand 1.5 percent this year, down from a previous forecast of 1.7 percent, Goldman economists in New York including Jan Hatzius said in a note published on Aug. 19. Credit Suisse was also among banks lowering growth forecasts this month.