US economy poised for 'solid' growth in 2025 because America 'doesn't import recessions': BofA

Published On Dec 3, 2024, 6:00 AM

According to Bank of America (BofA), the U.S. economy is expected to achieve a solid growth rate of 2.4% in 2025, outpacing current forecasts of 2%. This outlook is buoyed by strong domestic growth trends, high consumer confidence, and moderate inflation. Despite potential challenges from incoming economic policies under President-elect Trump, such as proposed tariffs and tax cuts, the U.S. economy is seen as resilient and better positioned to handle any disruptions compared to other economies like Europe and China.

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With the U.S. economy projected to grow robustly in 2025 and given the strength in domestic trends like consumer confidence and retail sales, sectors heavily invested in U.S. economic performance may benefit. However, potential tariffs and a hawkish monetary policy could create short-term volatility. Overall, the long-term outlook remains positive due to the expected growth and resilience of the U.S. economy.

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