Goldman Sachs upgrades third-quarter US GDP forecast to 35% after stronger-than-expected August jobs report

Richard Drew/AP

© Richard Drew/AP
Richard Drew/AP

  • 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. 
  • Visit Business Insider’s homepage for more stories.

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. 


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Goldman said in a note on Thursday

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