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.

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 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.

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 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 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.

The local stock market suffered another crushing blow, plunging to its lowest level in almost 15 months following the US Federal Reserve’s decision to keep interest rates unchanged and a softer-than-expected Philippine gross domestic product data.

Bitcoin price found support around its 50-day Exponential Moving Average (EMA) at $98,633 on Monday and rose 2.37% on Wednesday, closing above $103,700 on that day. At the time of writing on Thursday, it continues to trade higher around $105,400.

Federal Reserve interest rate decision, Jerome Powell comments, PCE inflation, U.S. GDP, and earnings from Tesla, Meta, Microsoft, Apple and more.

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%.