Goldman Sachs cuts GDP forecast for the reason that of worry on small banking companies, which are key to U.S. overall economy

Important Factors

Goldman Sachs reduced its advancement forecast by .3 proportion details to 1.2% for 2023, as gauged by the fourth quarter of 2022 to the fourth quarter of this year.
Analysts feel a pullback in lending will guide to substantial tightening in lender lending criteria, dragging down growth now affected by tightening in the latest quarters.
Banks with much less than $250 billion in property comprise about 50% of U.S. industrial and industrial lending.

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