PHOENIX—If the U.S. economy grows at Goldman Sachs’ forecast of 2.7% in 2011 and 3.6%, this will represent three years of respectable growth, said Heather Shemilt, managing director and head of the pensions, endowments and foundations group at Goldman Sachs. Shemilt was addressing Information Management Network’s “Super Bowl of Indexing” here Monday. In the first three quarters of this year, the U.S. GDP has grown 2.63%.
Shemilt also noted that the S&P 500 Index is up 11% this year, and emerging markets have risen 12%. Goldman projects that the S&P 500 will rise 12% in 2011 and 11% in 2012.