U.S. Economy grew at a 2.3% pace in the fourth quarter, less than expected
- The U.S. Economy's gross domestic product grew at a 2.3% annual rate in the fourth quarter of 2024, as reported by the Commerce Department.
- Consumer spending increased at a 4.2% rate, despite persistent inflation and challenges from high borrowing costs.
- The Federal Reserve held interest rates steady, indicating the challenges posed by persistent inflation and high borrowing costs.
207 Articles
207 Articles
US economy grows solid 2.3% in October-December on eve of Trump return to White House
WASHINGTON — A humming American economy ended 2024 on a solid note with consumer spending continuing to drive growth, and ahead of what could be a significant change in direction under a Trump administration. The Commerce Department reported Thursday that gross domestic product — the economy's output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year, the economy grew a healthy 2.8%, compared …
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