Goldman Sachs cut its US GDP forecast for 2021 and 2022 based on the ongoing impact of Covid-19 on spending and the semiconductor chip shortage.

Bank of America and Goldman Sachs both slashed forecasts for third-quarter growth. Americans just aren't spending enough to keep the recovery booming.

The economy benefitted massively from vaccines and reopening under Biden. Conversely, the Trump presidency saw the worst growth since Hoover.

US economic output for the second quarter widely missed expectations. The White House's spending plans promise a healthy boost.

US economic output grew at an annualized rate of 6.5% in the second quarter, missing the 8.5% estimate but placing GDP above its pre-crisis peak.

Chancellor Rishi Sunak said the UK GDP figures were "a promising sign that our economy is beginning to recover."

The bank upgraded its 2022 GDP projection but warned that rebounding rent costs are flashing "signs of more persistent inflationary pressures."

The central bank's model sees second-quarter growth reaching an annualized rate of 10.4%. That would be the second strongest expansion since 1978.

The US has now recovered about 96% of its pandemic-era decline in output. A 10% surge for first-quarter GDP would have completed the economic rebound.

US gross domestic product grew at an annualized rate of 4% in the fourth quarter, the Commerce Department said Thursday. Economists surveyed by Bloomberg expected growth to come in at 4.2%. The gains come after economic reopening drove a record-high growth rate of 33.1% in the third quarter. While the […]

Bank of America lifted its forecasts for US full-year and first-quarter economic growth, citing hopes for new stimulus under the Biden administration and strong consumer spending trends. The bank’s economists lifted their first-quarter GDP forecast to 4% growth from 1% and boosted their 2021 estimate to 5% from 4.6% expansion. […]

Spiking COVID-19 cases and slowing economic activity have led Goldman Sachs to cut its near-term growth forecasts. Economists led by Jan Hatzius predicted that US gross domestic product would grow by 3.5% in the fourth quarter, down from a forecast of 4.5%. The bank also lowered its first-quarter 2021 growth […]

Goldman Sachs updated its US gross domestic product outlook on Saturday, factoring in rising COVID-19 cases, a Biden presidency, and coronavirus vaccine updates. US GDP will grow 3.5% in the first quarter of 2021, the team led by Jan Hatzius said, citing fallout from record-high case counts. That’s half of […]

US equities climbed higher on Thursday as rallying tech stocks and encouraging economic data reversed some of Wednesday’s plunge. Apple,Amazon,Facebook, and Alphabet led gains ahead of the companies’ third-quarter reports. US GDP grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading […]

US equities slid on Thursday, even as economic data pointed to a stronger-than-expected pace of recovery. The US economy grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading exceeded the 32% estimate from economists surveyed by Bloomberg. Weekly jobless claims fell […]

The US economy grew 7.4% during the third quarter, or 33.1% at an annualized rate. But the economic recovery still has a long way to go, experts say. The GDP may not reflect the economic wellbeing of average people. “It’s masking these pockets of real distress,” former Federal Reserve economist […]

US gross domestic product grew at a record 33.1% annualized rate in the second quarter, the Commerce Department said on Thursday. The jump followed the second quarter’s 31.4% annualized slump and roughly doubled the next-biggest increase on record. Economists surveyed by Bloomberg had expected a 32% increase. The GDP reading […]