Goldman Sachs slashes forecasts for next quarter, now sees 34% GDP contraction and 15% unemployment

· US gross domestic product will shrink by 34% in the second quarter as the coronavirus fuels a worse-than-expected hit to the labor market, Goldman Sachs said Tuesday.
· The bank initially called for a 24% hit to GDP in the period but lowered its estimate on "sky-high jobless claims numbers" released Thursday.
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