Goldman Sachs Expects U.S. Economic Data to Weaken This Summer

Economists at Goldman Sachs predict that due to tariffs and policy uncertainties applying pressure on the economy, the U.S. GDP for the fourth quarter will only grow by 0.5% compared to the fourth quarter of 2024. Currently, business and consumer surveys indicate a slowdown in the economy, but official economic data haven't yet reflected this. They infer that economic indicators may begin to more clearly show signs of a downturn by mid-to-late summer. "The evolution of data in recent weeks is consistent with previous 'event-driven' slowdowns in growth. However, it is still too early to make strong conclusions from the currently limited data."