Thursday's GDP report indicates a year-end slowdown; however, deeper insights reveal consistent economic activity. America's economy maintained growth in late 2024, supported by solid consumer demand amid low unemployment and rising wages. The GDP grew at a 2.3% annualized rate between October and December, fueled mainly by consumer spending, which contributed nearly 3 percentage points to the growth figure. Additionally, investment patterns reflect cautious optimism in sectors like housing, despite some slowdown in business spending.
The GDP report's details 'tell a more robust story that will keep the Fed wary about easing monetary policy too far too fast,' noted James Knightley.
The economy expanded at a 2.3% annualized rate in the October to December period, backed by stronger consumer spending and low unemployment.
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