US GDP will be back to pre-pandemic levels by mid-2021 under a Biden presidency and as vaccine progress continues, Goldman says

The V-shaped economic recovery is alive and well, at least according to Goldman Sachs. Economists led by Jan Hatzius published their latest US gross domestic product forecast over the weekend, updating their outlook on near-term stimulus, COVID-19 vaccine development, and economic reopening. Goldman expects the recovery to cool after GDP leaped 33% in the third quarter, but recent developments have pushed back the timing of a full rebound. The latest wave of coronavirus cases is the most important factor affecting future growth and is already placing a significant drag on GDP, the team said. The US economy will now … (full story)

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