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Goldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would be higher, citing anecdotal evidence and "sky-high jobless claims numbers."
Goldman said it is now forecasting a real GDP quarter-over-quarter decline of 34% annualized for the second quarter, compared with its previous estimates for a 6% decline and a 24% drop.
It sees the unemployment rate rising to 15% by mid-year compared with its previous expectation for 9%.
(Reporting By Sinéad Carew, Editing by Franklin Paul) ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters Messaging: sinead.carew.thomsonreuters.com@reuters.net))