Mumbai, March 12 -- Energy Information Administration or EIA stated in a latest monthly update for March that its forecast for US GDP this month assumes that real GDP will grow by 2.4% in 2025 and 2.2% in 2026, an upward revision of 0.3% and 0.2%, respectively, from last month. The revision is due to the release of the advance estimate of GDP by the U.S. Bureau of Economic Analysis for 4Q24 and the total year of 2024. The report showed real GDP increased at an annual rate of 2.3% in 4Q24, 0.5% higher than EIA assumed in last month's forecast. Consumer spending remains a primary driver of GDP growth, growing at an annual rate of 3.2% in 4Q24.
Published by HT Digital Content Services with permission from Capital Market....