Gross Domestic Product, 4th Quarter of Year 2024

The U.S. economy grew at an annual rate of 2.3% in the fourth quarter of 2024, a slowdown from the 3.1% growth in the previous quarter. Consumer and government spending drove the increase, while investment declined. Inflation indicators showed modest increases, with the PCE price index rising 2.4% and core inflation (excluding food and energy) up 2.7%. The full-year GDP growth for 2024 was 2.8%, reflecting steady economic expansion despite shifting investment trends.