GDP grew at a 2.3% pace in the fourth quarter, less than expected

The U.S. economy experienced slower growth than expected in the fourth quarter of 2024, with GDP increasing by 2.3% annually, falling short of economists’ 2.5% forecast. Consumer spending remained strong, contributing to growth, while trade was a drag on the economy. The Federal Reserve remains cautious about further interest rate cuts despite concerns about inflation levels and consumer savings declining to a two-year low.

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