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US economy resilient despite moderation in growth in fourth quarter


Published on 2025-01-31 05:21:19 - Reuters
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  • U.S. economic growth slowed in the fourth quarter as a strike at Boeing depressed business investment in equipment, but consumer spending increased at its fastest pace in nearly two years, underscoring strong domestic demand that probably keeps the Federal Reserve on a slow interest rate cut path this year.

The U.S. economy experienced a slowdown in the fourth quarter of 2024, with GDP growth decreasing to an annualized rate of 1.6% from 3.2% in the previous quarter, according to the Commerce Department's preliminary estimate. Despite this slowdown, consumer spending remained robust, increasing at a 2.8% rate, driven by a strong labor market and wage growth. However, business investment saw a decline, particularly in equipment, and there was a notable decrease in inventory investment. Additionally, the housing sector continued to struggle due to high mortgage rates, and net exports negatively impacted GDP growth. This mixed economic performance comes amidst expectations of potential interest rate cuts by the Federal Reserve in 2025, as inflation pressures ease.

Read the Full Reuters Article at:
[ https://www.reuters.com/markets/us/us-economy-slows-fourth-quarter-spending-robust-2025-01-30/ ]
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