Business

Goldman Sachs boosts US GDP estimate, sees relief bill at US$1.5 trillion

Economists at Goldman Sachs Group Inc on Monday bumped their U.S. GDP forecast for the second quarter to 11per cent from 10per cent and said that additional fiscal measures are likely to be valued at US$1.5 trillion, up from their previous US$1.1 trillion estimate.

FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange
FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid

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REUTERS: Economists at Goldman Sachs Group Inc on Monday bumped their U.S. GDP forecast for the second quarter to 11per cent from 10per cent and said that additional fiscal measures are likely to be valued at US$1.5 trillion, up from their previous US$1.1 trillion estimate.

On an annual basis, they raised their forecasts for 2021 and 2022 growth by 0.2 percentage points each, to 6.8per cent and 4.5per cent, respectively.

(Reporting by Kanishka Singh in Bengaluru)

Source: Reuters