Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarter
- The American economy grew at a 2.3 percent annual rate in the last quarter of 2024, according to the Commerce Department report.
- Consumer spending increased by 4.2 percent from October to December, indicating strong holiday shopping, despite a decline in business investment due to equipment spending falling by 9 percent.
- Inflationary pressures remain, with the personal consumption expenditures index rising to a 2.4 percent annual pace, surpassing the Federal Reserve's 2 percent target.
- The Labor Department reported a rise in unemployment benefit claims to the highest level in three months, indicating potential economic challenges ahead.
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Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarter
The American economy grew at a solid 2.3% annual rate the last three months of 2024, supported by a burst of year-end consumer spending, the government said, leaving unchanged its
·United States
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Total News Sources19
Leaning Left4Leaning Right2Center6Last UpdatedBias Distribution50% Center
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- 50% of the sources are Center
50% Center
L 33%
C 50%
R 17%
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