Kevin Hassett expects US GDP to rise to 2.5% in first quarter of 2025

The US gross domestic product (GDP) will rise to 2–2.5% in the first quarter of 2025, said the National Economic Council director Kevin Hassett while giving an interview to Fox News. 

Hassett believes that the US economy’s performance is strong and well above economists' expectations. As an example, he cited the 10,000 jobs added in the manufacturing sector and 9,000 jobs added in the auto industry. Besides, the top manager pointed to the inflation data released on Wednesday. In February, the US consumer price index rose 2.8% on a yearly basis, which is below the expected 2.9% growth and January’s increase of 3.0%. At the same time, the core inflation rise of 3.1% on a yearly basis became the lowest in four years. 

According to Hassett, US President Donald Trump’s policy is already showing positive results since business leaders are confident in the sustainability of the country’s economy.