Goldman Sachs expects US economic data to weaken this summer

Odaily Planet Daily reports that Goldman Sachs economists predict that due to pressures from tariffs and policy uncertainties, the U.S. GDP will grow by only 0.5% from Q4 2023 to Q4 2024. Currently, surveys of businesses and consumers indicate an economic slowdown, but official economic data have yet to reflect this trend. They infer that economic indicators may begin to more clearly show signs of recession in the mid to late summer. "The recent evolution of data is consistent with the previously observed 'event-driven' growth slowdown. However, it is still too early to draw strong conclusions from the limited data currently available."