Goldman Sachs has cut its near-term growth forecasts for the United States.<br />Goldman Sachs based this on spiking COVID-19 cases and slowing economic activity.<br />US gross domestic product will grow 3.5% in the fourth quarter, down from the previous forecast of 4.5%.<br />According to Business Insider first-quarter 2021 growth estimate was also lowered to 1% from 3.5%.<br />Goldman Sachs said the winter drag should give way to a bigger rebound on the back of vaccine distribution.
