{"id":1475,"date":"2020-04-04T15:37:49","date_gmt":"2020-04-04T19:37:49","guid":{"rendered":"http:\/\/markkirkwood.com\/?p=1475"},"modified":"2020-04-04T15:37:49","modified_gmt":"2020-04-04T19:37:49","slug":"goldman-sachs-gdp-update","status":"publish","type":"post","link":"https:\/\/blog.markkirkwood.com\/?p=1475","title":{"rendered":"Goldman Sachs GDP Update"},"content":{"rendered":"<p>Goldman Sachs slashes forecasts for next quarter, now sees 34% GDP contraction and 15% unemployment<\/p>\n<p>Mar 31, 2020, 12:56 PM<\/p>\n<p>US gross domestic product will shrink by 34% in the second quarter as the coronavirus outbreak fuels a worse-than-expected hit to the labor market, Goldman Sachs said on Tuesday, Mar 31.<\/p>\n<p>The bank initially forecast a 24% hit to GDP in the period but lowered its estimate based on the &#8220;<a href=\"https:\/\/www.businessinsider.com\/us-weekly-jobless-claims-record-coronavirus-unemployment-insurance-labor-recession-2020-3\" data-analytics-module=\"summary_bullets\" data-analytics-post-depth=\"20\">sky-high jobless claims numbers<\/a>&#8221; released on Thursday, Apr 2.<\/p>\n<p>The team led by Jan Hatzius said that unemployment would quadruple to hit 15% by the second half of the year as layoffs continue.<\/p>\n<p>Goldman sees GDP surging 19% in the third quarter as the government&#8217;s fiscal and monetary easing drives a &#8220;bigger rebound&#8221; than previously forecast.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs slashes forecasts for next quarter, now sees 34% GDP contraction and 15% unemployment Mar 31, 2020, 12:56 PM US gross domestic product will shrink by 34% in the second quarter as the coronavirus outbreak fuels a worse-than-expected hit to the labor market, Goldman Sachs said on Tuesday, Mar 31. The bank initially forecast [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1475","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=\/wp\/v2\/posts\/1475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1475"}],"version-history":[{"count":0,"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=\/wp\/v2\/posts\/1475\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.markkirkwood.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}