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Goldman Sachs downgrades US' GDP forecast for 2021-2022, dragged by Omicron

8 Dec 2021 16:29 reported by Lena Yang

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Goldman Sachs lowered the US GDP forecast for this year (2021) and 2022. The present growth of economic expectation for this year is 3.8%, compared to the previous forecast of 4.2%. For 2022, it was estimated at 2.9%, reduced from the previous 3.3%.

According to Joseph Briggs, an economist at Goldman Sachs, there is still no answer about Omicron. They now believe that the most likely scenario is that the virus will be transmitted faster, but immunity to severe cases will only decrease slightly.

Briggs noted that Omicron might aggravate a shortage of supplies. At the same time, some people may return to work later.

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