The U.S. economy grew at 2.3% in the fourth quarter 2024

The U.S. economy maintained a steady growth rate, with GDP growing annually at 2.3% in the last quarter of 2024, consistent with expert forecasts. Yahoo Finance reported that the Bureau of Economic Analysis confirmed these figures in its second GDP estimate in the fourth quarter, consistent with earlier advanced estimates.

Also read: The U.S. economy will continue to grow in 2025

This slowdown in growth from the 3.1% rate decline observed in the third quarter is mainly due to increased consumer and government spending, which is balanced by a decline in investment. These trends respond to insights from the index box platform, which further illustrates the nuances in key economic sectors. The final GDP growth during this period is expected to be revealed at the end of March.

Against this backdrop of economic renewal, there is a continued focus on the potential impact of President Trump’s tariff strategy, which analysts believe may slow growth and boost inflation. As cited in recent consumer sentiment data, concerns about tariffs and the wider Trump 2.0 policy consequences remain clear as consumer confidence witnessed the biggest decline in nearly four years. The upcoming forecast is expected to continue steady economic growth, with the Atlanta Fed GDPNOW tracker predicting growth of 2.3% for the quarter.

Source: Index Box Market Intelligence Platform