U.S. gross domestic product grew by 2,3% in Q4 2024 after expanding by 3.1% in Q3. Consumption was the lion's share of growth as investment fell on inventory declines.

Real GDP growth in the fourth quarter was short of the expected 2.7% increase.

The U.S. economy grew at a rate of 2.3% in the fourth quarter of 2024, according to a new estimate released by the Commerce Department's Bureau of Economic Analysis.

The Commerce Department reported Thursday that gross domestic product — the economy’s output of goods and services — expanded at a 2.3 percent annual rate from October through December. For the full year, the economy grew a healthy 2.8 percent, compared with 2.9 percent in 2023.

Against a backdrop of healthy demand and stubborn inflation, officials are widely expected to say on wednesday that they’re holding borrowing costs steady. At their December confab, policymakers signaled just two interest-rate cuts this year.

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The Commerce Department reported Jan. 30 that gross domestic product — the economy’s output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year, the economy grew a healthy 2.8%, compared with 2.9% in 2023.

The US economy expanded at a solid pace at the end of 2024, fueled by a generous tailwind from consumer spending that more than offset drags from a strike at Boeing Co. and much leaner inventory investment.

AI could raise productivity growth from 0.8 to 1.5 percentage points a year. That rivals the boosts we got from the transcontinental railroads, mechanization of agriculture and interstate highway system.

The Commerce Department reported Thursday that gross domestic product — the economy's output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year, the economy grew a healthy 2.8%, compared with 2.9% in 2023.

The local stock market suffered another crushing blow, plunging to its lowest level in almost 15 months following the US Federal Reserve’s decision to keep interest rates unchanged and a softer-than-expected Philippine gross domestic product data.

US stocks gained steam on Thursday afternoon as investors digested megacap tech earnings and waited for Apple (AAPL) results for more clues on prospects for Big Tech. Right ahead of the closing bell,