{"id":867616,"date":"2021-10-11T11:29:01","date_gmt":"2021-10-11T15:29:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=867616"},"modified":"2021-10-11T11:29:03","modified_gmt":"2021-10-11T15:29:03","slug":"goldman-sachs-downgrades-economic-growth-forecast","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/goldman-sachs-downgrades-economic-growth-forecast\/","title":{"rendered":"Goldman Sachs Downgrades Economic Growth Forecast"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgoldman-sachs-downgrades-economic-growth-forecast%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=867616&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/Wall-Street-economy-scaled-e1633961693347.jpeg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Goldman Sachs economists have cut their economic growth forecasts for 2021 and 2022 because of lagging consumer spending.<\/p>\n<p>The economists in a Sunday note to clients blamed the downgrade on &#8220;a longer-lasting virus drag on virus-sensitive consumer services spending,&#8221; a decreased financial stimulus, and a shortage in semiconductors, <em>MarketWatch<\/em> <a href=\"https:\/\/www.marketwatch.com\/story\/goldman-economists-cut-u-s-growth-forecasts-for-2021-2022-reports-11633907471\" target=\"_blank\" rel=\"noopener\">reported<\/a>.<\/p>\n<p>China, which has recently threatened <a href=\"https:\/\/freebeacon.com\/national-security\/china-threatens-taiwan-on-twitter-as-warplanes-swarm-island\/\">Taiwan<\/a>&nbsp;and the <a href=\"https:\/\/freebeacon.com\/national-security\/chinese-state-media-threaten-military-measures-over-us-recognition-of-taiwan\/\">United States<\/a>, has significant <a href=\"https:\/\/freebeacon.com\/national-security\/house-gop-calls-for-moving-vital-industries-from-china-to-america\/\">control<\/a>&nbsp;over the global semiconductor industry.<\/p>\n<p>The forecast predicts economic growth of 5.6 percent in 2021, down from 5.7 percent, and 4 percent growth in 2022, down from 4.4 percent. The economists have upgraded their 2023 and 2024 forecasts, however, which they say offset the downturn.<\/p>\n<p>The researchers said consumer spending is unlikely to reach pre-pandemic levels by next year.<\/p>\n<p>The Goldman forecast is only the latest piece of troubling economic news for the Biden administration, which already faces an <a href=\"https:\/\/freebeacon.com\/latest-news\/poll-nearly-80-percent-of-voters-say-biden-responsible-for-inflation-spike\/\">inflation spike<\/a>, the <a href=\"https:\/\/freebeacon.com\/latest-news\/gas-prices-reach-6-year-high-amid-shortages\/\">highest gas prices<\/a>&nbsp;in six years, and the <a href=\"https:\/\/freebeacon.com\/latest-news\/biden-posts-worst-jobs-report-since-2020\/\">worst unemployment numbers<\/a> in a year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs economists have cut their economic growth forecasts for 2021 and 2022 because of lagging consumer spending. The economists in a Sunday note to clients blamed the downgrade on &#8230;<\/p>\n","protected":false},"author":7,"featured_media":1893855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-867616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/867616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=867616"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/867616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1893855"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=867616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=867616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=867616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}