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Forecast cut

Goldman Sachs Group Inc cut its forecast for the global economy for the second time in eight days after predicting a deeper recession in Europe. "Following the reduction of our Eurozone growth forecast to minus 3.6 percent in 2009, the world economy is now likely to contract by 1 percent this year," said London-based Goldman economist Binit Patel. On March 5 Goldman lowered its outlook this year for global gross domestic product to a drop of 0.6 percent from a 0.2-percent decline.


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