
U.S. economic growth slowed a bit more than expected in the final three months of 2024, the Commerce Department reported Thursday. Limited time: Save 25% on NBC News subscription Get exclusive reporting, live Q&As and ad-free reading. Gross domestic product, a measure of all the goods and services produced across the sprawling U.S. economy during the period, showed that the economy accelerated at a 2.3% annualized inflation-adjusted pace in the fourth quarter.
Main Idea: The Bureau of Economic Analysis said U.S. GDP grew 2.3% in the fourth quarter of 2024, a bit below forecasts, while the Federal Reserve stayed cautious about cutting rates.
Key Points:
Slower GDP growth and weaker business investment could mean fewer job openings and less wage growth for some workers and small firms.
Strong consumer spending and low jobless claims suggest many households still have steady income and ongoing demand.
Rate how each entity in this article affected the American people.
Major policy body whose rate decisions and stance are tied to the economic outlook in the article.
Named Federal Reserve chair whose stated position on interest-rate cuts is highlighted.
Cited as the source of economist survey expectations for GDP, but not a central actor.
Investment firm whose executive is quoted on the GDP report, but only as commentary.
Quoted investment strategist offering reaction to the GDP report, but not a central subject.
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