Real U.S. Gross Domestic Product in the fourth quarter 2024 rose at an annual rate of 2.3%, according to the Commerce Department's Bureau of Economic analysis second estimate Thursday.
The US economy advanced at a healthy pace and inflation was more stubborn than initially estimated at the end of 2024.
Government spending makes up 6% of total gross domestic product. And besides, spending cuts come with economic ripple effects.
The American economy grew at a solid 2.3% annual rate the last three months of 2024, supported by a burst of year-end consumer spending, the government said, leaving unchanged its initial estimate of fourth-quarter growth.
Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024 (October, November, and December), according to the second estimate released by the U.S. Bureau of Economic Analysis.
While the Columbus may be viewed as Ohio's economic juggernaut, the state's capital region has fewer workers and a lower GDP than Cincinnati.
Prime Minister Keir Starmer says the U.K. will raise defense spending to 2.5% of gross domestic product by 2027
New orders for key U.S.-manufactured capital goods surged in January, hinting at a rebound in business spending on equipment in the first quarter.
Argentina’s economy expanded more than expected in December, solidifying the country’s bounceback in the last quarter of the year under President Javier Milei’s watch.