Goldman Sachs (GS) Sees 9% Unemployment And 5% GDP Contaction

According to Bloomberg, “Goldman Sachs Group Inc. increased its recession estimates, saying gross domestic product is declining at a 5 percent annual rate in the current quarter and will drop 3 percent and 1 percent in the next two quarters. Unemployment will reach 9 percent by the fourth quarter of 2009.”

Douglas A. McIntyre