U.S. gross domestic product grew by 2,3% in Q4 2024 after expanding by 3.1% in Q3. Consumption was the lion's share of growth as investment fell on inventory declines.

The Commerce Department reported Thursday that gross domestic product — the economy’s output of goods and services — expanded at a 2.3 percent annual rate from October through December. For the full year, the economy grew a healthy 2.8 percent, compared with 2.9 percent in 2023.

The US economy expanded at a solid pace at the end of 2024, fueled by a generous tailwind from consumer spending that more than offset drags from a strike at Boeing Co. and much leaner inventory investment.

The Commerce Department reported Jan. 30 that gross domestic product — the economy’s output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year, the economy grew a healthy 2.8%, compared with 2.9% in 2023.

Against a backdrop of healthy demand and stubborn inflation, officials are widely expected to say on wednesday that they’re holding borrowing costs steady. At their December confab, policymakers signaled just two interest-rate cuts this year.

The S&P 500 ( ^GSPC) gained 0.5%, while the Dow Jones Industrial Average ( ^DJI) rose nearly 0.4%. The tech-heavy Nasdaq Composite ( ^IXIC) was up nearly 0.3%.

The Commerce Department reported Thursday that gross domestic product — the economy's output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year, the economy grew a healthy 2.8%, compared with 2.9% in 2023.

The American economy ended 2024 on a solid note with consumer spending continuing to drive growth. The Commerce Department reported Thursday that gross domestic product—the economy’s output of goods and services—expanded at a 2.

Markets in Indian are poised to open with an upside, amid firm global cues, as investors track the start of the Budget session with the presentation of the Economic Survey today

Gold hit an all-time high as the dollar pushed lower and traders sought safety amid concerns over US president Donald Trump's tariff measures. Bullion surged as much as 1.4pc to $2,798.59 an ounce, surpassing its previous all-time high set in October.

The new data were published Thursday by the Bureau of Economic Analysis in its report for gross domestic product for the fourth quarter.