Goldman Sachs is optimistic about the US economy in 2020.
A team of the bank's economists, led by Jan Hatzius, released a note detailing their predictions for next year.
They expect the US-China trade war to subside and consumer spending to remain strong, offsetting weak business investment and causing growth to accelerate. They also predict unemployment will drop to its lowest level since the Korean War and see the risk of a recession dropping, from one in three earlier this year to one in five.
Markets are likely to remain nervy, however, with a presidential election in less than a year, as there's no clear frontrunner among the Democrats and President Donald Trump's approval ratings remain low.
A team of the bank's economists, led by Jan Hatzius, released a note detailing their predictions for next year.
They expect the US-China trade war to subside and consumer spending to remain strong, offsetting weak business investment and causing growth to accelerate. They also predict unemployment will drop to its lowest level since the Korean War and see the risk of a recession dropping, from one in three earlier this year to one in five.
Markets are likely to remain nervy, however, with a presidential election in less than a year, as there's no clear frontrunner among the Democrats and President Donald Trump's approval ratings remain low.
Bull by Sam Valadi is licensed under Flickr Creative Commons Attribution 2.0 Generic license.
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