American economic growth has slowed a little more than expected in the last three months of 2024, the trade department reported on Thursday.
The gross domestic product, the measure of all the goods and services produced throughout the US economy over the period, showed that the economy accelerated 2.3% of the annual tempo in the fourth quarter. The economists who examined Dow Jones expected an increase of 2.5%.
The report closes in 2024 on a slightly lowered note, although the growth was reasonably solid. The price of the year, GDP accelerated 2.8%, compared to 2.9% in 2023. The publication on Thursday was the first of three estimates to provide a bureau for the economic analysis of the department.
Growth is mainly maintained on the back of the consumer who continued to spend faster despite the permanent burden of high prices on everyone, from homes to car to eggs in the supermarket. Although inflation is good from boiling of the 40-year high mid-2022, it remains a burden for households, especially those at the lower end of the revenue ladder.
Consumer consumption increased with a strong 4.2% pace and, as usual, was about two -thirds of all activities. The government consumption also encouraged, accelerating at a level of 3.2%.
The trade was the withdrawal of growth in the period, with imports, which deducted from the calculation of GDP, 0.8%was excluded. Exports also reduced 0.8%.
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