Ekonomické zprávy
30.01.2025

U.S. economy expands less than forecast in Q4

The Commerce Department released on Thursday its advance estimate for the U.S. gross domestic product (GDP) for the fourth quarter of 2024, which showed that the U.S. economy grew less than anticipated in the reviewed period.

According to the estimate, the U.S. real GDP increased at an annual rate of 2.3 per cent q-o-q in the final quarter of 2024, following an unrevised 3.1 per cent q-o-q gain in the previous quarter. This marked the weakest economic growth since the first quarter of 2024 (+1.6 per cent q-o-q). 

Economists had forecast the U.S. GDP to rise by 2.6 per cent q-o-q.

According to the report, the advance in real GDP in the fourth quarter was mainly due to gains in consumer spending and government spending that were partly offset by a decline in investment. Meanwhile, imports, which are a subtraction in the calculation of GDP, fell.

In 2024, the U.S. economy grew 2.9 per cent y-o-y after a 2.9 per cent y-o-y increase in 2023, primarily reflecting advances in consumer spending, investment, government spending, and exports. Imports dropped.

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