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U.S. GDP forecast 2021

According to the most recent forecast released at the Federal Open Market Committee (FOMC) meeting on Dec. 16, 2020, U.S. GDP growth is expected to contract by 2.4% in 2020. It is estimated to then rebound up to a 4.2% growth rate in 2021, and slow to 3.2% in 2022, and 2.4% in 2023. 7 Economic Forecast Summary (December 2020) The economy is recovering following the sharp fall in GDP and dramatic rise in the unemployment rate in the first half of 2020. Real GDP is anticipated to contract by 3.7% in 2020, before rising by 3.2% in 2021 and 3.5% in 2022. The unemployment rate will gradually fall, but will remain elevated compared with the pre-pandemic period. This reflects. Economic Outlook and Price Forecasts. U.S. GDP Growth Rate. U.S. Inflation Rate. Gold Prices. Crude Oil Price. U.S. Unemployment Rate. U.S. Nonfarm Payrolls. Housing Starts. Retail Sales Forecast. Personal Consumption Expenditures. Research Articles. How Stock Markets are Interconnected. Why Stock Markets Continue to Rise. Cluster Analysis of. Under a worst-case scenario, however, it will contract 2.5% and 1.0% respectively. The median 2020 GDP forecast showed a further downgrade to -5.7% from -4.1% predicted a month ago but was a touch..

US Economic Outlook For 2021 and Beyond - The Balanc

  1. According to the CBO, the United States GDP will increase steadily over the next decade from 21.22 trillion U.S. dollars in 2019 to 32 trillion U.S. dollars in 2030. The annual GDP of the United..
  2. We now forecast global GDP to contract 3.8% in 2020, worse than the 2.4% contraction we previously expected, mainly reflecting a deeper, longer hit to emerging markets, led by India. We see a reasonably strong bounce in 2021-2023 with global growth averaging above 4%, but with permanent lost output from the COVID-19 shock
  3. g clear by the end of 2020. Global GDP growth is now projected to be 5.6% this year, an upward revision of more than 1 percentage point from the December OECD Economic Outlook
  4. Trend gross domestic product (GDP), including long-term baseline projections (up to 2060), in real terms. Forecast is based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and expert judgement. The indicator is measured in USD at 2010 Purchasing Power Parities

United States Economic Snapshot - OEC

U.S. GDP Forecas

  1. The consumer savings rate was 13.7% in December, well above its normal level of 7.5%. Consumers saved 16.3% of their disposable income in 2020, and thus will have plenty of cash to boost spending..
  2. g can be important for policymakers. For example, of the four scheduled.
  3. © 2021 International Monetary Fund. All rights reserved
  4. CBO estimates that real (inflation-adjusted) gross domestic product (GDP) will contract by 11 percent in the second quarter of this year, which is equivalent to a decline of 38 percent at an annual rate. In the second quarter, the number of people employed will be almost 26 million lower than the number in the fourth quarter of 2019
  5. 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%. Consumer spending is likely to stall in July..
  6. Bloomberg Economics has used a growth accounting framework—adding up the contributions of labor, capital and productivity—to forecast potential GDP through 2050 for 39 countries, from the U.S.
  7. g the virus is contained midyear. The country will experience a short economic recession as GDP will decline in both the first and second quarters of 2020

The first release of U.S. GDP data for the third quarter of 2020 is scheduled to be published by the U.S. Bureau of Economic Analysis (BEA) on October 29, 2020. In anticipation of this official release, we examine forecasts for the near-term recovery in economic activity in this Chicago Fed Letter. Included in these forecasts are results presented for the first time from a mixed-frequency. Real GDP forecast. Real gross domestic product (GDP) is GDP given in constant prices and refers to the volume level of GDP. Constant price estimates of GDP are obtained by expressing values of all goods and services produced in a given year, expressed in terms of a base period. Forecast is based on an assessment of the economic climate in individual countries and the world economy, using a. The annual outlook reveals what to expect from the U.S. economy, trade tensions, the future of coal, weed, GOP election victories and more. January 3, 2020 Load Mor With the expected weakness in economic output and the larger federal deficits, the deficit would be 17.9 percent of GDP in 2020 and 9.8 percent of GDP in 2021, CBO projects, compared with 4.6 percent in 2019. The deficit relative to GDP is projected to be 13 percentage points higher in 2020 and about 5 percentage points higher in 2021 than in CBO's March baseline projections

Near-term U.S. economic outlook darkens, slow recovery to ..

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U.S. Gross Domestic Product - forecast 2030 Statist

  1. Forecast: discount department store sales U.S. 2008-2020 Industry revenue of pharmacies and drug stores in the U.S. 2012-2024 Industry revenue of women's clothing stores in the U.S.
  2. The Federal Reserve on Wednesday raised its forecast for 2021 gross domestic product by more than 50% from its December estimate while holding interest rates steady. GDP is now expected to.
  3. The U.S. net international investment position, the difference between U.S. residents' foreign financial assets and liabilities, was -$14.09 trillion at the end of the fourth quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $32.16 trillion and liabilities were $46.25 trillion. At the end of the third quarter, the net investment.
  4. GDP Annual Growth Rate - Forecast 2020-2022. World Europe America Asia Africa Australia G20 Country Last Q2/21 Q3/21 Q4/21 Q1/22; Afghanistan.

Economic Forecasts: July 2020 S&P Global Rating

U.S. gross domestic product (GDP) declined by 3.5% in 2020 from 2019 levels. This STEO assumes U.S. GDP will grow by 5.6% in 2021 and by 4.2% in 2022. The U.S. macroeconomic assumptions in this outlook are based on forecasts by IHS Markit. • For the 2021 summer driving season (April-September), the U.S. Energy Informatio This page presents GDP forecast figures by country for the period from 2021 to 2025 as estimated by the IMF in its latest edition of World Economic Outlook (WEO) as of October 2020. In the table below, countries are ranked by the gross domestic product measured in purchasing power parities (PPP) at current prices. Other GDP-related dashboards:Historical GDP by countryHistorical GDP per capita.

Overall, GDP is now forecast to grow by 3.7% in 2021 and 3.9% in 2022 in the EU, and by 3.8% in both years in the euro area. The EU economy would reach the pre-crisis level of output earlier than anticipated back in the Autumn Forecast, largely because of the stronger momentum in the second half of 2021 and in 2022. The speed of the recovery will, however, vary significantly across the EU. E CONOMISTS cannot revise down their forecasts of GDP growth for the effects of the coronavirus pandemic fast enough. All agree that 2020 will be dreadful, but some expect recovery to take longer. U.S. GDP grew by 4.0% in Q4 2020, in line with CBRE's forecast but just below consensus expectations of 4.3%. Q4 2020 growth was driven by residential construction, exports and companies investing in new equipment. CBRE expects growth to moderate further in Q1, but rapidly accelerate in H2 2021. For full-year 2021, CBRE forecasts GDP growth of 4.9%. CBRE has also upgraded its 2022 GDP.

OECD Economic Outloo

Domestic product - GDP long-term forecast - OECD Dat

Real GDP forecast. Real gross domestic product (GDP) is GDP given in constant prices and refers to the volume level of GDP. Constant price estimates of GDP are obtained by expressing values of all goods and services produced in a given year, expressed in terms of a base period. Forecast is based on an assessment of the economic climate in. The Kiplinger Letter's Must-Read Political and Economic Forecasts for 2020 business The annual outlook reveals what to expect from the U.S. economy, trade tensions, the future of coal, weed, GOP. GDP expanded 6.5% year-on-year in the fourth quarter, data from the National Bureau of Statistics showed, quicker than the 6.1% forecast by economists in a R poll, and followed the third.

U.S. Economy: Finally, the light at the end of the tunnel is nearing. Though the virus will likely be with us for years to come, the accelerating pace of vaccinations offers hope that economic activity can soon return to normal. Moreover, in light of robust stimulus efforts, trillions of dollars in pent-up demand will likely lead to a wave of spending this summer and fall. Though the labor. Economic news, indicators and forecasts for more than 127 countries. Get thousands of economic indicators, including historical data, current economic statistics and economic forecasts Economic activity in developing Asia is forecast to contract by 0.4% this year, less than the 0.7% contraction envisaged in the Asian Development Outlook 2020 Update in September. Growth will rebound to 6.8% in 2021, but this will still leave the level of GDP next year substantially below pre-COVID-19 expectations Q3 2020. U.S. Economic Insight: A pivotal tug of war. While the general population sees the world through the lens of the pandemic (writ large), we take a broader approach when analyzing the economy in 2020. We view the economy through the lens of uncertainty Goldman Lowers U.S. GDP Forecast, Sees 4.6% Contraction in 2020 Simon Kennedy 7/5/2020 Two women facing charges for allegedly harassing Uber driver in mask disput

2020 U.S. Economic Forecast Upgraded Despite Heightened Risks. September 15, 2020. Record Mortgage Origination Volume Expected in 2020, as Housing Remains Highly Supportive of Economic Growth. WASHINGTON, DC - Despite continued downside risks, full-year 2020 real GDP is now forecast to contract by 2.6 percent, an improvement from the prior month's forecast of a 3.1 percent contraction. IMF revises its global GDP forecast higher, but warns the economy 'remains prone to setbacks' Published Tue, Oct 13 2020 8:31 AM EDT Updated Wed, Oct 14 2020 1:40 AM EDT Silvia Amaro @Silvia_Amar

World Economic Outlook - IM

The bank lowered its first-quarter GDP forecast to -3.4% from -2.4% and its second-quarter GDP forecast to -38% from -30%. We expect the U.S. economic recovery will be more drawn out than. The bank slashed its U.S. GDP growth forecast to just 1.2% from 1.4%, seeing a more severe drag from the epidemic. That growth rate is drastically slower than the 2.1% increase in the fourth.

• After contracting by an annualized 10 percent in the first quarter of 2020, Canadian economic output is expected to plunge in the second quarter due to the lockdown was applied across all regions of the country and oil prices tumbled lower. Real gross domestic product is expected to contract by over 50 percent in annualized terms during the second quarter. • However, as the curve of new. U.S. Quarterly Economic Forecast Economic Outlook Gets a Shot in the Arm. Date Published: March 18, 2021. Click here to jump to our forecast tables. Category: U.S. Forecasts; Download . Print Version. Share this: As we did last quarter, this quarter's economic update is in Q&A format. We have posed (and answered) the questions that we deem most relevant to the economic outlook, starting with. World Economic Situation and Prospects as of mid-2020. 13 May 2020. GDP growth in developed countries will plunge to -5.0 per cent in 2020, while output of developing countries will shrink by 0.

Forecasting the U.S. and Wisconsin Economies in 2020 . https://crowe.wisc.edu . 1 Overview This paper provides forecasts for the United States and Wisconsin economies in 2020. While increased recession fears arose in mid-2019, they abated by the end of the year as growth continued. Our forecasts suggest that the long economic recovery which began in the aftermath of the 2008 recession will. In the first half of 2020, China's goods trade, in U.S. dollar terms, contracted by 6.6 percent year on year to settle at 2.02 trillion U.S. dollars. During the same period, exports edged down by 6.2 percent year over year to reach 1.10 trillion U.S. dollars, while imports tumbled by 7.1 percent to meet 930.9 billion dollars Beyond 2020, economic growth will be constrained by declining labour force growth and weak business investment. Annual business investment is $50 billion below 2014 levels. There will be a rebound in the coming years, but growth will be slow over the long term. From 2020 to 2040, GDP growth is projected to average just 1.7 per cent Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the advance estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see Source.

Updating Our Near-Term GDP Forecasts We now expect a 3.9% fall in U.S. GDP in 2020 and a 2.4% fall in global GDP in 2020, incorporating a 600-basis-point and 550-basis-point negative impact. UNITED STATES ECONOMIC FORECAST | 2020 3 The current state of affairs in the global and U.S economy is unlike anything experienced in modern times, and like many forecasting organizations, the Center for Economic Forecasting is working to fully grasp the scope of what is happening and exactly how it might shift the economic outlook. There are many potential outcomes to this crisis. And while. State Economic Forecast Beata Caranci, SVP & Chief Economist | 416-982-8067 James Marple, Director & Senior Economist | 416-982-2557 Admir Kolaj, Economist | 416-944-6318 Andrew Hencic, PhD, Economist . Date Published: March 22, 2021. Category: U.S. Forecasts; Download. Print Version. Share this: New England (Jump to Section) Economic growth in New England is expected to rebound at a solid. BEA Account Code: A191RC. Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States.For more information, see the Guide to the National Income and Product Accounts of the United States (NIPA) and the Bureau of Economic Analysis JP Morgan slashes forecast for U.S. GDP, sees 14% second-quarter drop. SAN FRANCISCO (R) - The U.S. economy could shrink 4% this quarter and 14% next quarter, and for the year is likely to.

U.S. economic forecasts for real GDP in 20201 are shown here from a number of organizations. Real GDP contracted 3.7 percent in 2020, and grew 2.2 percent in 2019. So a 4.0 percent consensus forecast for 2021 appears quite auspicious, and encouraging. With a fair amount of growth, the Fed expects the unemployment rate to drop to 5.0 percent in 2021. That implies another million jobs created. After the economy had experienced a solid start to 2020, the escalating effects of the coronavirus pandemic in March have reduced the first-quarter 2020 forecast of GDP growth to 0.4%. GDP for the second quarter of the year is now forecast to slow by 6.5%, and by 1.9% for the third quarter. With the assumption of an end to the pandemic and repaired supply chains by this summer, the Forecast. NADA Forecasts 2020 U.S. Auto Sales Volume at 16.8 Million New Vehicles Tweet; TYSONS, Va. (Dec. 17, 2019)—Today, the National Automobile Dealers Association (NADA) released its annual new-vehicle sales forecast for 2020. We expect new light-vehicles sales will come in at 16.8 million units for 2020, roughly a 1.2 percent drop from 2019 sales volume, said NADA senior economist Patrick. Q4 GDP Forecasts. by Calculated Risk on 12/11/2020 11:34:00 AM. Economic activity in the fourth quarter is dependent on the impact of the pandemic. With the number of new cases per day of COVID over 200,000, hospitalizations at record levels (over 100,000), and deaths per day at new record highs (over 3,000 the last two days), it is clear that economic activity will slow in December. Most of.

GDP growth estimate for 2020 was 1.8% (median forecast, 4Q/4Q) Top factors affecting economic growth: trade policy, business confidence & private credit market conditions; Top risks to economic forecasts: trade/tariffs and global growth for both the up and downsid Baseline assumes GDP growth of -4.6% in 2020 and 3.8% in 2021. Pace of decline in unemployment to slow as persistent headwinds increase

Morgan Stanley releases new forecast showing UHeading for a slowdown: 2020 U

U.S. Real GDP Forecast - Financial Forecast Cente

Expects 10.4% Cumulative GDP Decline in 2020 - Deepest Recession on Record. Karen Bigelow April 2, 2020 Leave a comment April 2, 2020 - Bank of America's U.S. Economics Team revised their economic forecast this morning, and now thinks the U.S. economy will shrink 30% (on an annualized basis, translating to a 8.5% decline quarter-to-quarter) in Q2, with cumulative decline in GDP of 10.4% for the year GDP is now expected to increase 6.5% in 2021 before cooling off in later years, according to the Federal Open Market Committee, the central bank's monetary policy making group. That is sharply.. The idea of a 'Global Minimum Tax' is one of several proposals in Biden's Made in America Tax Plan to curtail profit shifting activity. The plan sets out a framework that would see the U.S. actively engage with the OECD (Organization for Economic Cooperation and Development), encouraging members to agree to a minimum corporate tax rate by offering significant incentives to bring. If the public health response, including social distancing and lockdown measures, is initially successful but fails to prevent a resurgence in the virus, the world will experience a muted economic recovery, says McKinsey. In this scenario, while the global economy would recover to pre-crisis levels by the third quarter of 2022, the US economy would need until the first quarter of 2023 and Europe until the third quarter of the same year Projected GDP Ranking. As of 2021, the United States and China would occupy the first two places in the world gdp ranking of both methods. The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2021 (8.24%) is much higher than the US's 3.08%. On a nominal basis, the US is ahead of China by $5 trillion in 2021.

Key Messages. According to the latest ADB economic report (December 2020) Developing Asia is now forecast to contract by 0.4% in 2020, less than the 0.7% contraction envisaged in the September ADO Update . While growth in 2021 is forecast to rebound to 6.8%. But prospects are diverging within the region 18 March 2020. Updated with 'Forecasts for the UK economy: March 2020'. 19 February 2020. Updated with 'Forecasts for the UK economy: February 2020'. 15 January 2020 Their GDP won't be much to write home about. Up 1.3% on the year versus 6.1% last year, and market forecasts ranging between 5% to 5.5% growth this year. The Trump Administration released its.

US Economic Forecast Q1 2021 Deloitte Insight

Only by 2023 are inflation and unemployment forecasts at levels that most likely reflect what the Fed would currently see as a full recovery. One noteworthy element in the projections is the wide. US GDP Growth Forecast 2019-2024 and up to 2060 | Data and Charts. Loading... In this dashboard, we have integrated the most recent medium and long-term forecasts of key economic indicators for G20 countries from major international organizations, namely, the World Bank, IMF, United Nations, OECD, European Commission and the Economist Intelligence. Business and academic economists in the survey now expect, on average, gross domestic product to contract 0.1% at an annual rate in the second quarter. That is a large downgrade from February, when.. January 12, 2021. Regional GDP is projected to return to growth in 2021 as activity recovers from the pandemic. Household and capital spending are set to rebound, partly supported by continued fiscal and monetary stimulus, while strengthening demand from the EU should bolster exports

U.S. Economic Outlook. October 27, 2020. The economy likely recovered robustly in Q3, after Q2's unprecedented contraction due to the blow dealt by Covid-19. In September, the unemployment rate dropped 0.5 percentage points from the month prior while non-farm payrolls continued to rise, although they were still down 10.7 million compared to February. This, coupled with consumer confidence. The U.S. Bureau of Economic Analysis (BEA) released its advance estimate of first-quarter 2020 GDP Wednesday morning. Here were the main metrics from the report, compared to consensus expectations. The Goldman Sachs forecast predicts that quarter-on-quarter annualized GDP will decline 6 percent in the first three months of 2020, and then drop another 24 percent in the second quarter, with the.. The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2020 is 11.1 percent on December 17, up from 11.0 percent on December 16

The U.S. economy is forecast to contract 6.1% this year, reflecting the disruptions associated with pandemic-control measures. Euro Area output is expected to shrink 9.1% in 2020 as widespread outbreaks took a heavy toll on activity. Japan's economy is anticipated to shrink 6.1% as preventive measures have slowed economic activity. The COVID-19 recession is singular in many respects and. UNITED STATES ECONOMIC FORECAST | 2020 5 This sudden halt in economic activity will create turmoil in the economy in the coming weeks. The March employment numbers will surely be grim The firm on Friday dramatically cut its US economic forecast and is expecting gross domestic product will decline by 24% in the second quarter of 2020 due to the coronavirus pandemic. A drop of..

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Goldman Sachs Insights - Economic Outlook

Sep 2020. -31.4 %. Jun 2020. 3.17 %. 1947 - 2020. U.S. Bureau of Economic Analysis. On the expenditure side, personal consumption expenditures accounts for 68 percent of total GDP out of which. Economic activity in Europe and Central Asia (ECA) is estimated to have contracted 2.9 percent in 2020 in the wake of disruptions related to the COVID-19 pandemic. The pandemic is expected to erase at least five years of per capita income gains in about a fifth of the region's economies and raise the poverty headcount. Economies with strong trade or financial linkages to the euro area and. For the full 2020 year, it is expected that GDP will have declined by 0.4%. In 2021, with the abatement of governmental pandemic expenditures and the continued contraction of residential and commercial construction, the economy is forecast to grow at 1.5%. The full recovery and return to trend is now expected in 2022 St. Louis Fed's Economic News Index (ENI) uses economic content from key monthly economic data releases to forecast the growth of real GDP during that quarter. In general, the most-current observation is revised multiple times throughout the quarter. The final forecasted value (before the BEA's release of the advance estimate of GDP) is the static, historical value for that quarter. For.

FXIS Market Insights: February 2010

Goldman Lowers U.S. GDP Forecast, Sees 4.6% Contraction in ..

The ESR Group now expects second quarter 2020 real GDP to fall 37.0 percent annualized, compared to the 36.6 percent decline predicted last month, and full-year 2020 GDP of negative 5.4 percent, one-tenth lower than the prior forecast of negative 5.3 percent. Its forecast for full-year 2021 growth, however, improved by one-tenth to 5.3 percent Despite transformational changes to our business, CBRE's 2020 U.S. Outlook predicts a very good year for commercial real estate. Resilient economic activity, strong property fundamentals, low interest rates and the relative attractiveness of real estate as an asset class are the primary factors supporting our outlook posted on 30 November 2020. December 2020 Economic Forecast - A Weak But Improving Economy Written by Steven Hansen. Econintersect's Economic Index forecast continues to see a recovery underway.

Morgan Stanley releases new forecast showing U

TYSONS, Va. (Dec. 17, 2019)—Today, the National Automobile Dealers Association (NADA) released its annual new-vehicle sales forecast for 2020. We expect new light-vehicles sales will come in at 16.8 million units for 2020, roughly a 1.2 percent drop from 2019 sales volume, said NADA senior economist Patrick Manzi June 1, 2020 at 7:50 p.m. UTC. Fallout from the coronavirus pandemic will shrink the size of the U.S. economy by roughly $8 trillion over the next decade, according to new projections released by. The economists said they now expect the economy to grow 25% in the third quarter having previously predicted 33%. That would result in the economy slumping 4.6% this year, worse than the 4.2% previously seen. But the Goldman Sachs economists said they still expected growth of 5.8% next year and now project unemployment will be at 9% at the end. The U.S. economic forecast through 2020 calls for more deceleration, but not recession. Personal consumption and government expenditures will likely remain primary drivers of U.S. economic growth throughout 2020. Truck chassis and equipment sales expectations remain negative for 2020 at about a -5% rate. After falling in August, U.S./Mexico commercial truck chassis sales bounced back in. In our April forecast, we show a very hard GDP downdraft in the second quarter at a negative 29 percent annualized rate for real GDP. This is followed by stabilization and some improvement in the third quarter, and then stronger recovery in late 2020 and early 2021. With this U-shaped path of GDP growth rates, it is important to keep track of the levels of GDP also. We show the pre-crisis high.

What’s the outlook for the 2020 economy? | Beef MagazineUS Economic Forecast - Predictions for Economy 2020 GDP

United States - Economic Forecasts - 2020-2022 Outloo

They also incorporate inputs from select teams across the PwC global economic network. 'MER' refers to market exchange rates and 'PPP' is purchasing power parity. Note that the table above form our main scenario projections and are therefore subject to considerable uncertainties. PwC recommends that our clients look at a range of alternative scenarios. Date updated: 05/03/2021. Net farm income, a broad measure of profits, is forecast to decrease $9.8 billion (8.1 percent) from 2020 to $111.4 billion in 2021. This expected decline follows a forecast increase of $38 billion (45.7 percent) in 2020. After increasing $27.3 billion (25.0 percent) in 2020, net cash farm income is forecast to decrease $7.9 billion (5.8 percent) to $128.3 billion in 2021 Goldman Sachs lifts 2021 US GDP forecast to 6.2% and predicts a COVID-19 vaccine will be 'widely distributed' by mid-2021 Shalini Nagarajan Aug. 10, 2020, 01:09 P

UBS Slashes GDP Forecast, Sees US Economy On Edge Of

GDP Growth Rate and Forecast Kiplinge

Cement consumption is expected to grow 2.3% in 2019 and 1.7% in 2020. Overall, slightly softer economic growth, suggests a gentler interest rate pattern as well as slightly less robust conditions in the labor market. For construction, these factors largely offset each other. This forecast contains analysis and tables for the Economic Forecast, Construction Put-in-Place (billions of 2009. Goldman Sachs' Coronavirus-Infected U.S. GDP Forecast Is Totally Insane Francois Aure in Markets News & Opinions Markets Opinion March 22, 2020, 5:00 AM 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 Wood Mackenzie forecasts a 5% contraction to U.S. GDP in 2020. This outlook reflects current guidance from the CDC and public health officials, which assumes that early reopening of the economy will result in a wave of secondary localized outbreaks that will cause additional statewide shutdowns and reduced economic activity. Though we have yet to see this reflected in the near-term sales.

Although U.S. light vehicle sales were fairly steady over the past couple of years, Smoke said he expects light vehicle sales to decline from 17.2 million units in 2018 to 16.8 million units in 2019 and to drop again in 2020 to 16.5 million units (pretty much in line with the AOS consensus forecast). Demand for new light vehicles is expected to soften because of increasing monthly auto loan. The bank is forecasting a 24% decline in economic activity next quarter, compared to their previous forecast for a 5% decline. That's because U.S. economic data (specifically manufacturing data. The I.M.F. forecast is more grim than global projections outlined earlier this month by the Organization for Economic Cooperation and Development. And its U.S. forecast for 2020 is also less.

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