US economy optimistic at year-end

VTV.vn - Treasury Secretary Scott Bessent forecasts that US GDP could increase by 3% amid a boom in holiday shopping.

People shop at a supermarket in San Mateo, California, USA. (Photo: THX/TTXVN)

US Treasury Secretary Scott Bessent said the holiday shopping season has been very active so far and forecasts the US economy will end the year in an optimistic state.

In an interview with CBS News' Face the Nation, Scott Bessent said the US economy has seen a 4% increase in gross domestic product (GDP) for several quarters, despite the government shutdown due to budget disagreements. He said the US economy could still end the year with real GDP growth of about 3%.

According to the Bureau of Economic Analysis (BEA), US GDP in the first quarter of 2025 decreased by 0.6% compared to the same period last year. In the second quarter, the world's largest economy grew again at 3.8%.

The BEA is scheduled to release its initial estimate of third-quarter 2025 growth on December 23. The latest forecast from the Atlanta Federal Reserve Bank on December 5 showed that US third-quarter GDP could increase 3.5% compared to the same period in 2024.

Consumers – who account for nearly 70% of US GDP – remain pessimistic about the economic outlook. The University of Michigan’s consumer sentiment survey came in at 53.3 in December 2025, up 4.5% from November but down 28% from the same time last year.

The latest US inflation report, delayed by the government shutdown, showed consumer prices rose 3% in September compared to the same month last year, with food prices rising 3.1%. Rising prices continue to affect people's lives, but President Donald Trump has rejected the idea that Americans are struggling financially.

Voters have recently expressed frustration with the Trump administration’s handling of the economy. According to an NBC News survey, about two-thirds of registered voters believe the administration is not doing a good job of addressing the economy and cost of living.

Responding to Mr. Trump's statement, Minister Bessent said that the current administration is still dealing with the consequences of inflation left over from the time of former President Joe Biden, and that the way the media reports has made people feel negative about the economy.

Source: https://vtv.vn/kinh-te-my-lac-quan-cuoi-nam-100251209091015508.htm