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Economy Grew Slower Than Expected In Fourth Quarter, But Still Solid
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Key points
- In the fourth quarter, the annual rate of the US economy increased by 2.3 % after inflation adjustment, slowing from 3.1 % in the third quarter, but it was still a health rate.
- The important thing is that the expenditure of consumers has accelerated, indicating that there are still many momentum for shoppers to enter the new presidential management.
- The reduction of investment and commercial inventory has delayed growth.
The economic growth in the United States declined in the fourth quarter, but it still increased at a stable rate and supported by consumer expenditure.
The Economic Analysis Bureau stated in a preliminary estimate on Thursday that the annual annual rate after inflation was adjusted by 2.3 % in the first quarter. According to the survey of the forecasman Dow Jones News and “Wall Street Journal”Essence
Although there was a low -key, the overall growth of that year indicated that the economic basis was stable. In 2024, it increased by 2.8 % and decreased from 2.9 % in 2023. Commercial investment and inventory declined in the fourth quarter, delaying the overall quarterly figures. However, government expenditure has increased, and consumer expenditure is also the main engine of growth, which shows that the economy still has a lot of motivation when he transitions to President Donald Trump.
Scott Anderson, chief economist at BMO Capital Markets, wrote in the comments: “Overall, this is a good GDP report, which currently shows that the US economic expansion is still quite stable.”
Consumer expenditure increased by 4.2 %, the biggest surge in the first quarter of 2023. At the same time, private domestic investment fell by 5.6 %, the first time since the first quarter of 2023.
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