March 15, 2020 / 8:07 PM / 21 days ago

Goldman downgrades U.S. growth forecast for Q1, Q2 due to coronavirus

NEW YORK, March 15 (Reuters) - Goldman Sachs Group Inc has downgraded its U.S. growth forecast for the first quarter in the wake of the economic fallout from the coronavirus outbreak.

In a note sent on Sunday, the U.S. bank said it now sees real gross domestic product growth of 0% in the first three months of the year, from its original estimate of 0.7% expansion.

For the second quarter, it sees U.S. growth contracting to -0.5% from its initial forecast of 0%. Goldman raised its third-quarter U.S. GDP estimate to 3% from 1% originally. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker)

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