US GDP will decline more than originally expected, but the country's economy will get back on track in September, Goldman Sachs economists noted.
Analysts believe that a pause in consumer July and August spendings will limit recovery in the third quarter. However, Goldman Sachs also updated the 2021 figures, in part because the prospects for an earlier vaccine have recently improved. They expect that the US economy will return to its previous course in September.
Goldman Sachs predicts that US unemployment will fall to 9 percent by the end of 2020 compared with 9.5 percent earlier thought, Bloomberg reported.