“US Economy Ends 2024 With 2.3% GDP Growth on Consumer Resilience”
January 30, 2025
“Inflation-adjusted gross domestic product increased an annualized 2.3% in the fourth quarter after rising 3.1% in the prior three-month period, according to the government’s initial estimate published Thursday. The median forecast in a Bloomberg survey of economists called for a 2.6% growth.
Consumer spending, which comprises the largest share of economic activity, advanced at a 4.2% pace — the first time since late 2021 that outlays have exceeded 3% in consecutive quarters. The acceleration was led by a pickup in motor vehicle sales.
At the same time, a closely watched measure of underlying inflation rose 2.5%, marking only the second quarterly acceleration since late 2022, the Bureau of Economic Analysis data showed. December inflation and spending figures are due Friday…”
https://finance.yahoo.com/news/us-economy-ends-2024-2-135017171.html