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Goldman Sachs pares U.S. second-quarter GDP view to 2.9 percent
May 9, 2017 / 6:14 PM / 6 months ago

Goldman Sachs pares U.S. second-quarter GDP view to 2.9 percent

NEW YORK (Reuters) - Goldman Sachs economists on Tuesday trimmed its estimate on U.S. gross domestic product in the second quarter to 2.9 percent and raised its first-quarter GDP estimate to 0.9 percent following the release of March data on wholesale inventories.

Construction is seen in the Hudson Yards area of the West Side of Manhattan in New York U.S., November 21, 2016. Picture taken November 21, 2016. REUTERS/Shannon Stapleton

“This morning’s data suggested a firmer pace of inventory investment in the first quarter but a somewhat smaller contribution to growth in the second quarter,” Goldman economists Spencer Hill and Avisha Thakkar wrote in a research note.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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