Goldman Sachs has cut its near-term growth forecasts for the United States.br Goldman Sachs based this on spiking COVID-19 cases and slowing economic activity.br US gross domestic product will grow 3.5 in the fourth quarter, down from the previous forecast of 4.5.br According to Business Insider first-quarter 2021 growth estimate was also lowered to 1 from 3.5.br Goldman Sachs said the winter drag should give way to a bigger rebound on the back of vaccine distribution.