Bank of America: Middle East impact is widespread but uneven

According to Golden Ten Data on April 12, a Bank of America research report released on Friday indicated that, for the United States, this year’s growth forecast has been revised down by 50 basis points to 2.3%, with the direct impact of war accounting for about three quarters of the adjustment. The overall inflation upward revision is 70 basis points; it is now expected that by the end of 2026, core PCE will be 30 basis points higher than previous predictions, reaching 3.1%. For the Eurozone, the bank revised its growth forecast down by 60 basis points and increased its inflation forecast by 160 basis points to 3.3%, with core inflation at 2.3%.