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Goldman Lowers U.S. GDP Forecast, Sees 4.6% Contraction in 2020

Customers sit outside to eat at a restaurant in New York.
Photographer: Amir Hamja/Bloomberg

Goldman Sachs Group Inc. economists revised down their estimates for the U.S. economy this quarter, but predicted it will be back on track in September after some states imposed fresh restrictions to combat the coronavirus.

While consumer spending appears likely to stall this month and next, economists led by Jan Hatzius said other economies have proved it’s possible to resume activity and changes in behavior such as wearing masks will help too.