"Calculated Risk: Goldman Slashes GDP forecast: From Bloomberg: Goldman Slashes
U.S. Growth Forecasts, Says Recession Deepens: In a research note released this
morning, Goldman Sachs slashed their Q4 GDP forecast from a decline of 3.5%, to
a decline of 5% in Q4 (at an annual rate). They are now forecasting unemployment
will reach 9% by Q4 2009. They are also forecasting (not in Bloomberg article)
that unemployment will rise to 6.8% in November with 350,000 in reported job
losses.
This isn't quite the 'just awful' scenario, but it is pretty close."
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