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Goldman Sachs Cuts Its European Growth Forecast For Q4 2020

A.F 2 November, 2020 6:01 pm Market Update

US investment bank Goldman Sachs sharply cut its economic forecast for Europe in Q4 of the year after a jump in COVID-19 cases prompted major countries to announce partial closures in November.

The bank said it expected real GDP in the euro area to shrink 2.3% in Q4, a major revision to its previous forecast of 2.2% growth.

The bank lowered the forecast for GDP growth in Britain to -2.4% from a previous forecast of 3.6% growth.

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