美国经济-2025 年增速确有放缓，但幅度小于最初担忧-U.S. Economics-US growth did slow in 2025, just not by as much as we initially feared
2026-02-24 14:17
February 20, 2026 07:55 PM GMT U.S. Economics | North America Conventional wisdom suggests the US economy did not slow in 2025. Headline GDP data seem to confirm this view, with growth in 2025 about unchanged from 2024. However, we believe exceptionally high volatility in trade and inventory data clouded readings on headline GDP growth in 2025. Final sales to domestic purchasers – GDP less trade and inventories – slowed from 3.0% in 2024 to 1.9% in 2025, led by softer household and government spending. That ...