The Donald Trump administration’s shifting policy mix is altering the economic outlook, and S&P Global Ratings projects a likely downshift in US GDP growth to a 1.6 per cent quarterly average in 2025.
It forecasts real GDP growth will cool to 1.9 per cent in 2025 and 2026, and average roughly 2 per cent per year thereafter.
It projects US inflation will remain closer to 3 per cent this year.