U.S. Economy Ends 2024 with Steady Growth but Faces Uncertainty Under New Administration
The U.S. economy grew at 2.3% in Q4 2024, driven by robust consumer spending despite inflation and potential policy shifts from the Trump administration.
Europe's economic stagnation at the close of the year underscores deep-rooted challenges, particularly for Germany, as political uncertainty and external pressures stifle confidence and growth.
Europe's Economy Showed Zero Growth at End of 2024
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The final quarter of 2024 ends on a somewhat discouraging note as U.S. economic growth slows more than anticipated, highlighting challenges that lie ahead despite strong consumer spending.
GDP grew at a 2.3% pace in the fourth quarter, less than expected
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Thursday's GDP report, while initially suggesting a slowdown, actually reveals a resilient economy that is maintaining steady growth amid inflationary challenges.
The U.S. economy is chugging along
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Despite a strong consumer spending boost, the overall economic growth figures reveal a concerning trend of decline in trade and investment, which raises questions about the sustainability of this growth.
US economic growth slows despite consumers spending more
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The Federal Reserve's decision to keep interest rates unchanged reflects confidence in a still-strong U.S. economy, despite some warning signs like rising inflation and potential uncertainties from Trump's policies.
U.S. economy grew at a healthy 2.3% pace last quarter, driven by increased consumer spending
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Despite the slight slowdown in economic growth at the end of 2024, the overall performance of the U.S. economy remains solid, bolstered by robust consumer spending and government support, even as inflation continues to weigh on households.
GDP grew at a 2.3% pace in the fourth quarter, less than expected
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While the overall growth of the US economy seems impressive, underlying challenges, such as business investment contraction and potential inflation risks, paint a more complex picture that could undermine this progress.
The US economy just had another robust year | Business
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Despite a slowdown in the last quarter, the US economy's overall performance remains robust, countering Trump’s claims of a destroyed economy under Biden while also highlighting potential risks associated with his tariff plans.
US economy continues to grow at robust pace as Trump vows to reduce prices
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The economy exhibits a mixed performance, with robust consumer spending contrasting sharply against a worrying decline in business investment, suggesting complex dynamics are at play that could affect future growth.
The economy grew 2.3% in the fourth quarter. What it could mean for Fed rate cuts
USA TODAY·2M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.Despite a solid economic performance to end 2024, the future remains uncertain with potential policy shifts under the Trump administration threatening to impact growth.
U.S. economy grows solid 2.3% from October to December, 2.8% for full year 2024
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The U.S. economy's slower-than-expected growth in the fourth quarter highlights ongoing challenges despite a resilient consumer and government spending support.
US economy grew 2.3% in the fourth quarter, slower than expected
Fox Business·2M·Mostly ReliableThis source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.Leans RightThis outlet slightly leans right.The recent slowdown in GDP growth reflects a cooling economy, which, despite being below expectations for Q4, does not necessarily signal an impending recession, as the overall strength of the 2024 economy remains intact.
The US economy ended 2024 with cooler growth than expected in the fourth quarter
Business Insider·2M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.The latest economic data suggests that while growth has slowed, strong domestic demand is likely to guide the Federal Reserve towards a careful approach in cutting interest rates this year.
GDP Slows to 2.3% in Q4, Registers 2.8% for 2024
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Summary
The U.S. economy concluded 2024 with a 2.3% GDP growth in Q4, slightly below expectations, as strong consumer spending at 4.2% partially offset a decline in business investment. Full-year growth was 2.8%, down from 2.9% in 2023. Persistent inflation concerns arose with the personal consumption expenditures index increasing to 2.3%. Amidst this, the Federal Reserve held interest rates steady, reflecting a cautious outlook. The potential economic direction under the incoming Trump administration introduces uncertainty, as proposed tax cuts and trade tariffs may impact future growth positively or negatively, complicating the economic landscape.
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History
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