USGDPQQ 2.3%Q4/2024
source: U.S. Bureau of Economic Analysis
- The US economy expanded an annualized 2.3% in Q4 2024, the slowest growth in three quarters, down from 3.1% in Q3 and in line with the advance estimate.
Personal consumption remained the main driver of growth, increasing 4.2%, the most since Q1 2023, in line with the advance estimate.
Spending rose for both goods (6.1%) and services (3.3%).
Also, exports fell slightly less (-0.5% vs -0.8%) and imports declined slightly more than initially anticipated (-1.2% vs -0.8%), leaving the contribution from net trade positive at 0.12 pp.
Government expenditure also rose more (2.9% vs 2.5%).
Private inventories cut 0.81 pp from the growth, less than 0.93 pp.
On the other hand, fixed investment contracted more (-1.4% vs -0.6%), due to equipment (-9% vs -7.8%) and as investment in intellectual property products failed to rise (0% vs 2.6%).
Residential investment however, rose more than initially anticipated (5.4% vs 5.3%).
Considering full 2024, the economy advanced 2.8%.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.