Financial News: U.S. Gross Domestic Product Jumps Less Than Expected

U.S. Gross Domestic Product Jumps Less Than Expected In Q4

01/30/2025 - 08:39:00 (RTTNews)

(RTTNews) - U.S. economic growth in the fourth quarter of 2024 fell short of economist estimates, according to a report released by the Commerce Department on Thursday.

The report said gross domestic product shot up by 2.3 percent in the fourth quarter after surging by 3.1 percent in the third quarter. Economists had expected GDP to jump by 2.6 percent.

The Commerce Department said the GDP growth in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment.

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