US Economic Growth Was Firm, Inflation Quickened at End of 2024

The US economy advanced at a healthy pace and inflation was more stubborn than initially estimated at the end of 2024.

Gross domestic product increased at an unrevised 2.3% annualized pace in the fourth quarter, according to the Bureau of Economic Analysis out Thursday. The economy’s primary growth engine — consumer spending — advanced at a 4.2% pace.