During the last quarter of 2024, the US economy grew at an annual rate of 2.3%, according to the Bureau of Economic Analysis. This expansion was below the expected 2.6% and represented a slowdown from the 3.1% increase seen in the previous quarter.
In the fourth quarter of 2024, the United States economy expanded at an annualized rate of 2.3%, as reported by the Bureau of Economic Analysis. This growth rate fell short of the anticipated 2.6% and marked a deceleration from the 3.1% growth observed in the third quarter.
Growth in the fourth quarter was mainly fueled by a rise in consumer spending and government outlays. As a major factor of the Gross Domestic Product (GDP), consumer spending stayed strong, indicating continued household consumption. Government outlays also played a positive role, with significant boosts in federal and state spending.
Quarterly Comparison Analysis
The 2.3% growth in the fourth quarter marks the slowest quarterly increase since 2018, a time when the economy expanded by 0.6% in that same period. Annually, the economy grew by 2.8% in 2024, just under the 2.9% expansion noted in 2023.
The 2.3% growth rate in Q4 represents the slowest quarterly expansion since 2018, when the economy grew by 0.6% in the fourth quarter. On an annual basis, the economy grew by 2.8% in 2024, slightly below the 2.9% growth recorded in 2023.
Numerous factors played a role in the tempered growth seen in the fourth quarter:
- Reduction in Investment: A downturn in investment activities partially counteracted the benefits from consumer and government expenditure.
- Trade Factors: Imports saw a decline in this time frame, which, though a negative in GDP calculation, suggests possible changes in local demand and global supply chain modifications.
Presiones Inflacionarias e Implicaciones Políticas
Inflationary Pressures and Policy Implications
Summary of the Labor Market
Labor Market Overview
Prospects for 2025
Observing the future, the economic forecast for 2025 offers a varied scenario:
Looking ahead, the economic outlook for 2025 presents a mixed picture:
- Growth Projections: The Congressional Budget Office (CBO) projects a moderation in economic growth, with GDP expected to increase by 1.9% in 2025, down from an estimated 2.3% in 2024.
- cbo.gov
- Inflation Expectations: Economists anticipate that inflation will remain above the Federal Reserve’s 2% target, influenced by factors such as ongoing supply chain disruptions and policy decisions.
- reuters.com
- Policy Considerations: Proposed tariffs and stricter immigration policies could exert additional inflationary pressures and impact labor market dynamics, necessitating careful monitoring and policy adjustments.
