US investment bank Goldman Sachs indicated that it had cut its economic outlook for Europe sharply in the last quarter of 2020, with major countries announcing partial closures this month after the rise in Covid 19 cases. br />
The bank expects real GDP to contract in the euro area by 2.3% in the fourth quarter, in a major revision to its previous forecast of 2.2% growth, and lowering its forecast for GDP growth In Britain, to -2.4%, from a previous forecast of 3.6%.
was mentioned in a note to bank customers. We expect the new restrictions to last for three months before gradually lifting them starting in February.
