Goldman Offers Less-Dire View of Pandemic’s U.S. Economic Damage

The U.S.’s economic scarring from the pandemic is much less severe than initially feared, Goldman Sachs Group Inc.’s economics team said in a note that offered an upbeat take on America’s situation.

Commercial bankruptcy filings are below the pre-pandemic level, business closures have proved temporary and unemployment has fallen sharply, which bode well for medium-term recovery prospects, economists said in the note. A vaccine, combined with further fiscal support next year, is expected to limit long-term damage and keep the economy on track for a recovery that could “much more rapid than usual,” they said.