Live news updates: Crypto lender Celsius considering restructuring debts
— Represented, Forecasters even think, Forecasts, Second quarter .“, Similarly, Contract, Passing, Economy, Research organisation, Added — 1 min read
Some forecasters even think the world’s biggest economy will contract for the second consecutive quarter, passing the threshold for a technical recession. Goldman Sachs has cut its second-quarter GDP estimate by 1 percentage point to an increase of just 1.9 per cent. Personal consumption in the second quarter is now forecast to rise only 1.6 per cent compared to previous estimates of 2.3 per cent. Capital Economics now estimates consumption will rise only 0.8 per cent annualised. Pantheon Economics downgraded its GDP estimate and now forecasts a decline 0.5 per cent in second quarter. The Federal Reserve Bank of Atlanta's GDPNow tracker now points to a 1 per cent contraction in GDP in the June quarter, according to the Fed. Source