Real U.S. Gross Domestic Product in the fourth quarter 2024 rose at an annual rate of 2.3%, according to the Commerce Department's Bureau of Economic analysis second estimate Thursday.
The US economy advanced at a healthy pace and inflation was more stubborn than initially estimated at the end of 2024.
Projections show the economy growing at a steady pace in the current quarter, which ends in March. The Atlanta Fed GDPNow tracker currently projects the US economy is pacing for annualized growth of 2.3%. This is a breaking news post and will be updated with additional context.
Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024 (October, November, and December), according to the second estimate released by the U.S. Bureau of Economic Analysis.
The Federal Reserve's preferred yardstick showed prices rising at a faster clip than initially reported, adding to the outsized toll on lower-income households.
Government spending makes up 6% of total gross domestic product. And besides, spending cuts come with economic ripple effects.
Washington, DC, February 27, 2025-Real gross domestic product (GDP) increased at an annual rate of 2.3% in Q4 2024, according to the second estimate from the Bureau of Economic Analysis. In Q3, real GDP increased 3.1%.
The report showcases an economy that continued to expand at a solid pace on the shoulders of resilient consumer spending.
The U.S. economy advanced at a healthy pace and inflation was more stubborn than initially estimated at the end of 2024, Bloomberg reports. Gross domestic product increased at an unrevised 2.3% annualized pace in the fourth quarter,
Major cities are the primary drivers of the U.S. economy. According to the U.S. Census Bureau, about 86% of Americans lived in a metropolitan area in 2023 — and data from the Bureau of Economic Analysis shows that these places accounted for over 90% of U.
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