Economics
Goldman Expects U.S. Economic Growth to Slow Sharply Next Year
- Second half of 2022 now looking much weaker than consensus
- New virus variants, lingering remote work harm services sector
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U.S. economic growth will likely slow significantly in 2022 as the services sector’s recovery fades, according to Goldman Sachs Group Inc.
The U.S. bank expects the world’s biggest economy to return to trend-like expansion of 1.5%-2% in the second half of next year. It also cut its forecast for gross domestic product growth in the final two quarters of 2021 by one percentage point to 8.5% and 5% respectively.