Goldman Sachs expects the government to report no more than 2% growth when data for the second quarter of 2011 is released

In addition, Macroeconomic Advisers, a research firm, is almost as pessimistic in projecting 2.1% growth for this quarter. Both these firms, well respected in their analysis, have cut their forecasts for the second half of 2011 as well. Recently, the Federal Reserve downgraded its projections for the full year, to under 3% growth. It started 2011 with guidance as high as 3.9%.