A sooner-than-expected vaccine could save the economy, but there are still risks at play.
Goldman raised its economic forecasts for next year as it expects “at least one vaccine” to be widely distributed by the second quarter of 2021.
Goldman is forecasting 2021 GDP growth to hit 6.2% on an annual average basis, up from a previous estimate of 5.6% . Goldman says the quicker arrival of a vaccine would boost prospects for an economic recovery—with consumer spending set to accelerate in the first half of 2021 as Americans “resume activities that would previously have exposed them to Covid-19 risk.”
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