Economists at Goldman Sachs (GS) - Get Report today lowered their outlook on U.S. economic growth in the first half of this year after their data indicated a drop in wholesale inventories and a wider deficit in April's goods trade balance.

The economists downgraded their view on the expansion of the U.S. GDP in the second quarter to 2.8% from 3% and their first quarter GDP projection to 1% from 1.1%.

Goldman economists Daan Struyven and Avisha Thakkar noted the revisions to the GDP outlook in a note to clients today.

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