U.S. Congressional Budget Office lowers U.S. economic growth forecast for this year

Odaily Planet Daily News The U.S. Congressional Budget Office released its latest economic outlook report on the 12th, lowering its forecast for U.S. economic growth this year, while also raising its forecast for U.S. inflation and unemployment this year. The U.S. real GDP will grow by 1.4% in 2025, down from the agency’s forecast for January this year, a report from the U.S. Congressional Budget Office noted. Meanwhile, inflation will rise to 3.1%, nearly a percentage point above January's forecast of 2.2%. The report also shows that the U.S. unemployment rate is expected to reach 4.5% in the fourth quarter of 2025, up from the January forecast of 4.3%. The main factors that led to the U.S. Congressional Budget Office changing its forecast data include the U.S. tax and expenditure bill this year, higher tariffs and a decrease in the number of U.S. net immigration, the report said. (Jin Shi)