Economy

US Economy Grew 2.3 Percent in 4th Quarter, Short of Expectations

Consumer spending and government outlays drove much of the fourth-quarter growth.
US Economy Grew 2.3 Percent in 4th Quarter, Short of Expectations
People shop on Black Friday at a mall in Hanover, Md., on Nov. 29, 2024. Madalina Vasiliu/The Epoch Times
Andrew Moran
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The U.S. economy registered a smaller-than-expected rate of growth in the fourth quarter, reflecting a continuation of gains driven by consumer and government spending.

According to the Bureau of Economic Analysis, inflation-adjusted gross domestic product (GDP), a gauge of all goods and services produced, for the period from October to December 2024 advanced at an annualized rate of 2.3 percent.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."