Despite a slowdown, the U.S. economy's gross domestic product (GDP) grew at 2.3% in the fourth quarter of 2024, concluding a year of better-than-expected performance. Consumer spending, low unemployment, and wage growth supported a total GDP increase of 2.5% for 2024. Experts suggest resilience, yet caution that challenges stemming from political changes, such as trade and immigration policy shifts from President Trump's administration, might lead to unpredictability in growth and inflation going forward. The economic outlook remains cautiously optimistic but uncertain.
Robust consumer spending, underpinned by low unemployment and steady wage growth, helped keep the economy on track despite high interest rates, stubborn inflation and political turmoil at home and abroad.
But the economy entered the new year facing a new set of challenges. The whirlwind start to President Trump's second term... has increased uncertainty for both households and businesses.
Collection
[
|
...
]