Goldman Sachs revised upwards its FY21 growth forecast for India to a 10.3% contraction, from -14.8% it had projected in September. On Monday, CNBC reported that modern monetary theory (or MMT) could push gold prices higher. The US-based firm said developments on the vaccine front — where two candidates have posted satisfactory progress — will be very helpful in the recovery. "The uncertainty around all of these numbers is much greater than normal," the bank said. (Photo: Reuters) Goldman Sachs revises India's FY21 GDP target to -10.3% on vaccine progress 2 min read. Hatzius now expects a contraction in 2020 U.S. growth of 4.6%, versus a previous forecast for a 4.2% drop. The world’s largest economy will shrink 5 percent in the second quarter after zero GDP growth in the first three … The Hill 1625 K Street, NW Suite 900 Washington DC 20006 | 202-628-8500 tel | 202-628-8503 fax. ... World Business Watch: Goldman Sachs raises India's FY21 GDP forecast to -10.3%. For 2021, the bank is sticking to its forecast for growth to rebound 5.8%. Goldman Sachs Group Inc. economists have revised down their estimates for the 2020 US economic growth rate to -4.6% from the previous forecast of -4.4%. Goldman Sachs revised India GDP growth forecast to -10.3% for FY21 higher than earlier forecast of -14.8% and … Overall its GDP forecast for 2020 was down to 0.4per cent from 1.2per cent originally. Goldman Sachs expects India’s economy to contract 14.8% in the fiscal ending March 2021, the lowest forecast so far, compared with 11.8% predicted earlier, according to a statement. Foreign brokerage Goldman Sachs on Tuesday upgraded its India GDP forecast to a contraction of 10.3 per cent in FY21, as against its earlier estimate of a negative growth of 14.8 per cent. “The uncertainty around all of these numbers is much greater than normal,” the bank said. 2020-21 GDP: Fitch, Ind-Ra, Goldman Sachs cut forecasts further, peg contraction at double-digits The estimates follow the official data released by the government that showed a sharp 23.9 per cent contraction in the April-June quarter, the worst among the G20 countries, after the country’s economic growth … Consumer spending is likely to stall in July and August due to state-imposed restrictions to combat the coronavirus, economists led by Jan Hatzius said, … The Reserve Bank expects India's GDP … Overall its GDP forecast for 2020 was down to 0.4% from 1.2% originally. According to Goldman Sachs, gold futures could touch $1,600 per ounce in 2020. Goldman Sachs’ revision to its U.S. GDP forecast is completely bonkers, and shows Wall Street has no clue what’s going to happen amid the coronavirus outbreak. May 19, 2020 / 5:53 PM / 3 months ago ... 2020 / 5:53 PM / 3 months ago. Goldman Sachs on Friday dramatically cut its US economic forecast, saying it now expects GDP to decline by 24% in the second quarter of 2020 because of the coronavirus pandemic. March 22, 2020 … Goldman Sachs cuts India’s GDP forecast to 1.6%. The brokerage, which had forecasted the GDP to expand by 3.3 per cent on a real basis in FY21 on March 22, said the 1.6 per cent growth will be deeper than the commonly perceived recessions India has experienced in 1970s, 1980s and 2009. Bonds News. However, the bank has cautioned that these estimates have been made against high uncertainty which continues to prevail in global financial markets over the lack of clarity on just how badly the … Goldman Sachs expects India’s GDP to shrink 10.3% in 2020-21 against a contraction of 14.8% forecast in September, provided an effective Covid-19 vaccine is available. Economists led by Jan Hatzius predicted that US gross domestic product would grow by 3.5% in the fourth quarter, down from a forecast of 4.5%. The bank said in a note on Thursday: “We upgraded our near-term growth forecasts based on the much stronger-than-expected August jobs report and the solid summer data more generally.” The US … Goldman Sachs is bullish about India's economy recovery rate.. Goldman Sachs ups India's economic forecast on vaccine progress, now expects 10.8% contraction in FY21 PTI / Nov 17, 2020, 18:20 IST Facebook Twitter Linkedin EMail It’s not just the Nifty and Sensex targets that are seeing an upward revision, India GDP growth forecast has been revised upwards by Goldman Sachs after Moody’s last week did revise growth forecast upwards. New Delhi: Investment bank Goldman Sachs on Tuesday revised its FY21 growth forecast for India to a 10.3% contraction, from -14.8% it had projected in September. Goldman Sachs expects U.S. unemployment to fall to 9 percent by the end of 2020 compared to a previous estimate of 9.5 percent. India’s real gross domestic product (GDP) is expected to contract by 10.3% in FY21, investment bank Goldman Sachs said on Tuesday, against its September forecast of a much worse 14.8% contraction. Nov 18, 2020, 10.35 AM(IST) View in App; Follow Us. Goldman Lowers U.S. GDP Forecast, Sees 4.6% Contraction in 2020 Simon Kennedy 7/5/2020 Trump's doctor may be the first osteopathic physician to serve as president's top healer In the calendar year 2020, the economy … The Indian rupee remains unimpressed by the upward revision to India’s 2020 GDP forecast by Goldman Sachs.. September 23, 2020 UTC: 1:40 PM. Our global growth forecast for 2020 was 3.25% and our view was that the global economy would be better in 2020 supported by easier financial conditions and an end to US-China trade war escalation. Jan Hatzius, Goldman's chief economist, lowered his first-quarter GDP growth forecast to zero from 0.7%. 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