USA GS Economic Indicators Update

Economics Research 27 July 2026 | 12:01PM CDT

USA: GS Economic Indicators Update

Please find an update of our proprietary economic indicators below. The data behind these Jessica Rindels | exhibits can be downloaded here. Interactive charts can be found on our living page here. Goldman Sachs & Co. LLC

The nominal GS US Financial Conditions Index tightened by 9.0bp to 98.58 over the last week, mostly due to a higher 10-year Treasury yield. The real GS US FCI tightened by 8.5bp to 98.42:

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Index GS US Financial Conditions Indices Index Percentage points Percentage points 102 102 2.0 Real US GDP Growth Impulse from GS FCI, 2.0 3-Quarter Centered Moving Average Tightening

-1.0 -1.0 98 98 As of Jul. 23: -1.5 -1.5 Nominal -2.0 Real (Inflation-Adjusted) -2.0 97 97 GS Nominal FCI -2.5 -2.5 GS Real (Inflation-Adjusted) FCI Note: The impulses assume that the FCI stays flat following the listed date.

Source: Goldman Sachs Global Investment Research

Basis points Change in GS Nominal FCI & Components Basis points 15 Since July 20, 2026 15 Tightening

-5 -5 US FCI Fed Funds 10-yr TSY BBB Log SPX Log TWI Credit Spread

Source: Goldman Sachs Global Investment Research