U.S. energy consumption expected to fall in 2023: EIA

HOUSTON, Jan. 10 (Xinhua) -- Total U.S. energy consumption will fall by 0.9 percent in 2023 due to relatively flat economic growth, the U.S. Energy Information Administration (EIA) forecast on Tuesday.

Based on the S&P Global macroeconomic model, U.S. real GDP is expected to grow by 0.5 percent in 2023, with economic growth returning after contraction in the first half of 2023, the EIA said in its January Short-Term Energy Outlook (STEO) report.

In 2024, U.S. real GDP will grow by 1.9 percent, driven primarily by an increase in household consumption, according to the report, the first published by the EIA to include forecasts for 2024.

As a result, total energy consumption will rise by 1.0 percent in 2024, the report expects.