Goldman Sachs lowers US Q3 GDP estimate to 2.1%, was 2.2%

Hopes for a 3% economy slowly fading

The soft shipments reading in the August US durable goods report led to a more jitters on the strength of the economy.

The Atlanta Fed lowered its forecast today to 1.4% from 1.5%. Goldman Sachs is moving in the same direction with their tracking measure down to 2.1% from 2.2%. Two weeks ago it was 2.3%.

Over and over again, the Fed talks about growth accelerating to the pre-crisis norm of 3% but quarter after quarter the US economy shows that 2% is all it can muster.