According to Jinshi, S&P Global Ratings said in a report that it expects the US economic growth rate to slow to 1.8% next year from 2.7% this year. S&P expects consumers to control spending in the coming quarters.

While the Federal Reserve is expected to continue cutting interest rates, S&P sees the upcoming period of gradual easing as more of a precautionary measure to prevent economic growth from falling too far below potential rather than an immediate stimulus to the real economy.

S&P also said that except for the continued downturn in housing and manufacturing, most of the latest activity indicators show that economic growth momentum remains slightly above trend. S&P raised its growth forecasts for 2026 and 2027 due to the increase in potential growth.