Goldman Sachs cuts first-quarter U.S. GDP growth forecast to 0.1%

Goldman Sachs economists now expect the US economy to grow at an annualised rate of 0.1 per cent in Quarter 1, down from a previous forecast of 0.4 per cent. New home sales in the US rose more than expected last month, but the deflator for construction fell less than Goldman Sachs had expected, weakening the reading of inflation-adjusted growth. The US will release its preliminary Quarter 1 GDP figures on April 30.