Goldman Economists: U.S. Economic Data Expected to Weaken This Summer

According to ChainCatcher, Goldman Sachs economists forecast that due to tariffs and policy uncertainty weighing on the economy, U.S. GDP in the fourth quarter will only grow by 0.5% compared to the fourth quarter of 2024. Currently, business and consumer surveys indicate an economic slowdown, but official economic data has yet to show this sign. They speculate that economic indicators may start to more clearly demonstrate a recession by mid to late summer. "The evolution of data in recent weeks is consistent with previous 'event-driven' growth slowdowns. However, it is still too early to draw strong conclusions from the currently limited data."