Goldman trims U.S. GDP growth view after trade, inventory data
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FILE PHOTO: A Goldman Sachs sign is displayed inside the company's post on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2017. REUTERS/Brendan McDermid
NEW YORK (Reuters) - Goldman Sachs economists on Thursday dialed back their view on U.S. economic growth in the first half of this year following advance data that showed a drop in wholesale inventories and a wider deficit in the goods trade balance in April.
They downgraded their outlook on the expansion of the U.S. gross domestic product in the second quarter to 2.8 percent from 3.0 percent and their first-quarter GDP estimate to 1.0 percent from 1.1 percent.
The forecasts came in a research note written by Goldman economists Daan Struyven and Avisha Thakkar.
(Reporting by Richard Leong Editing by W Simon)
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