By Tuba Ongun
The US economy grew 2.3% in the fourth quarter of 2024, led by higher consumer spending and increased government expenditures which were partially counterbalanced by a decline in investment, according to the Commerce Department's second reading released Thursday.
The figure eased from the third quarter's growth rate of 3.1%, the Commerce Department data showed.
Real GDP was adjusted upward by less than 0.1 percentage point from last month's advance estimate, mainly due to increased government spending and exports, which were partially offset by reduced consumer spending and investment, it said.
The current dollar GDP increased 4.8% at an annual rate, an upward revision of 0.3 percentage points.
The US economy grew by 2.8% in 2024 as a whole, the same as previously estimated.