Economic growth came in pretty strong for the fourth quarter. GDP rose at an annual rate of 2.3%. And consumer spending rose 4.2%.

Consumer spending fueled growth, despite ongoing fears about inflation.

Economists expect that real GDP grew about 2.3% in the period, below the third quarter’s growth rate, due to a trade deficit in goods.

U.S. gross domestic product grew by 2,3% in Q4 2024 after expanding by 3.1% in Q3. Consumption was the lion's share of growth as investment fell on inventory declines.

After this morning's first look at U.S. growth in October through December, here's a visual breakdown of what has boosted gross domestic product in recent quarters:

The US economy grew at a slower pace in the fourth quarter, with the US Bureau of Economic Analysis (BEA) reporting GDP (gross domestic product) to have risen by 2.3%. This was below original forecasts of 2.

U.S. economic growth likely slowed in the fourth quarter as imports surged and a strike at Boeing hurt spending on aircraft, though strong domestic demand will probably keep the Federal Reserve on a shallow interest rate cut path this year.