Goldman Sachs shared the investing playbook it recommends following right now.
Since 1974, those three groups have had the best relative performance to the S&P 500 during periods of weak economic growth, Kostin wrote.
"Our economists expect GDP to decelerate further, and risks to their forecast are tilted downward," Kostin wrote in the note.
Goldman SachsFinally, Goldman Sachs recommends that investors avoid the following sectors and industries: technology hardware, industrials, media & entertainment, semiconductors, automobiles & components, and materials.
Those parts of the market are economically sensitive and will be disproportionately hurt if the economic slowdown worsens, Kostin wrote.