- Goldman Sachs is predicting US Q3 GDP to be 35% due to a better than expected August jobs report.
- 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 added 1.37 million jobs in August, higher than an expected addition of 1.35 million jobs.
- The bank said data is pointing to higher real spending in August, another factor prompting its GDP upgrade.
- Bloomberg economists are expecting US GDP to be 21% in Q3.
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Goldman Sachs has upgraded its forecasts for the US economy and now expects GDP to reach 35% in the third quarter of the year, making it by far the most bullish bank on Wall Street.
Goldman said in a note on Thursday