The U.S. economic system maintained a gentle progress charge, with the GDP increasing at an unrevised 2.3% annualized tempo within the final quarter of 2024, aligning with knowledgeable forecasts. Yahoo Finance studies that the Bureau of Financial Evaluation confirmed these figures of their second GDP estimate for the fourth quarter, according to the sooner superior estimate.
Learn additionally: U.S. Economy Set for Continued Growth in 2025
This progress deceleration from the three.1% charge noticed within the third quarter was primarily influenced by elevated shopper and authorities spending, counterbalanced by a decline in funding. Such traits echo insights from the IndexBox platform, which additional illustrates the nuanced shifts inside key financial sectors. The ultimate GDP progress estimate for this era will likely be revealed on the finish of March.
Within the backdrop of this financial replace, issues persist surrounding potential impacts from President Trump’s tariff methods, which analysts recommend may decelerate progress and elevate inflation. With shopper confidence witnessing its steepest drop in almost 4 years, as cited within the latest shopper sentiment information, apprehensions about tariffs and the broader Trump 2.0 coverage ramifications stay pronounced. The upcoming projections anticipate a continued regular financial growth, with the Atlanta Fed GDPNow tracker forecasting the same progress charge of two.3% for the present quarter.
