Goldman Sachs with a very subdued outlook for US economic growth into the end of the year, this in summary:
Three developments are set to temporarily slow growth:
- resumption of student loan payments
- the federal government looks more likely than not to temporarily shut down
- UAW strike
Taken together, we expect quarterly annualized GDP growth to slow from +3.1% in Q3 to +1.3% in Q4 (vs. consensus of +2.9% and +0.6%)
We expect the slowdown to be shallow and short-lived, with GDP growth rebounding to +1.9% in Q1 (vs. consensus of +0.1%) as these temporary drags abate and income growth reaccelerates on the back of continued solid job growth and rising real wages.
JPM Asset Management looking for worse:
