Bessent Expects Solid GDP Stock Amid 'Very Strong' Holiday Spending

Benzinga

Scott Bessent said holiday spending is strong and expects the economy to end the year solidly, projecting 3% real GDP growth in 2025 despite mixed data and weak consumer sentiment. Polls show many voters remain frustrated with inflation and Trump’s economic management.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Treasury Secretary Scott Besson said holiday spending has been very strong

00:06and expects the economy to finish the year on solid footing, according to CNBC.

00:11He said GDP grew about 4% in two quarters and predicted 3% real GDP growth for 2025,

00:18despite the government shutdown.

00:20Government data showed GDP contracted 0.6% year over year in the first quarter

00:24before rising 3.8% in the second.

00:27The Atlanta Fed's latest estimate puts third quarter annual growth

00:31at 3.5% ahead of the BEA's December 23rd release.

00:35Consumer sentiment remains gloomy, rising to 53.3 in December,

00:39but still far below last year's level.

00:42Trump dismissed affordability concerns at a cabinet meeting

00:44and called the term a Democrat scam.

00:47A recent NBC News poll found that about two-thirds of voters

00:50are frustrated with Trump's handling of the economy and the cost of living.

00:54For all things money, visit Benzinga.com.

00:57For all things money, visit Benzinga.com.

00:59And Facebook and動画 have been alles businessman.

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