Goldman Cuts U.S. Growth Forecast as Delta Slows Consumers

The video discusses concerns about the US consumer, highlighting a weaker jobs report and Goldman Sachs' decision to cut its growth forecast for the year from 6% to 5.7%. The American consumer, making up 70% of the US economy, is expected to reduce spending due to the Delta variant and reduced fiscal support. This is likely to impact the economy, as seen in slipping GDP forecasts. However, Goldman Sachs has raised its projections for 2022 from 4.5% to 4.6%.

What prompted Goldman Sachs to lower its growth forecast for the US?

• A weaker US jobs report

• A stronger US jobs report

• A decrease in COVID cases

• Increased consumer spending

What percentage of the US economy is made up by the American consumer?

• 50%

• 80%

• 70%

• 60%

What is one reason for the expected decrease in consumer spending?

• Increase in fiscal support

• Decrease in COVID cases

• Rise in goods spending

• Surge in the Delta variant

How did Goldman Sachs adjust its GDP forecast for 2022?

• Lowered it to 4.0%

• Raised it to 4.6%

• Kept it at 4.5%

• Lowered it to 3.5%

What trend is observed in the GDP forecasts as COVID cases surge?

• GDP forecasts have remained stable

• GDP forecasts have doubled

• GDP forecasts have increased

• GDP forecasts have slipped