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The situation in the country is not encouraging after Goldman Sachs announced that the forecast for economic growth for the United States will fall, so the firm specialized in investments stated that Consumers will face adversity in the immediate future .
Through a report, Ronnie Walker, representative of the company, said that the decrease represents 0.3%. According to Bloomberg, originally, growth estimates, made at the end of August, were around 6%, now the projected figure for 2021 now represents 5.7% .
Ronnie Walker stated that “the obstacle to growth in consumption in the future is higher”, the executive said that the variant Delta is weighing on the growth of the third quarter . When the new strain appeared, the business class expressed that they did not see an economic danger.
In addition, the executive stated that another reason why a good outlook is not looming has to do with the end of the fiscal stimulus, so recovery will be slower . The service sector will experience adverse scenarios in the medium term that will impact consumers throughout the country.
The Delta variant is already becoming a problem that not only has a negative impact on the country’s public health, but also on the economy. The best example of this is last month’s job creation figures, which contracted markedly .
Because of how job creation contracted, Goldman Sachs raised the unemployment rate to the corresponding 4.2% to this 2021, previously it was at 4.1%. In addition to these figures, the financial institution assured that another of the reasons that had an impact on the decline in the economic forecast had to do with the shortage of products.
According to Bloomberg, Goldman Sachs highlighted the impact of supply chain disruptions and shifting demand from US consumers for goods to services as key reasons the forecast fell to 2021.
Despite the adversity experienced in the country, Goldman Sachs expressed that he is hopeful that in 2022 there will be a rebound in consumer confidence and an improvement in the economic environment of the entire nation , so raised its forecast from 4.5% to 4.6% . Even by the end of the year there is room for improvement in this area with the Christmas season.
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