Financial News: U.S. Economy Grows Slightly Faster Than Previously Estimat

U.S. Economy Grows Slightly Faster Than Previously Estimated In Q4

03/27/2025 - 10:02:00 (RTTNews)

(RTTNews) - The U.S. economy grew by slightly more than previously estimated in the fourth quarter of 2024, according to revised data released by the Commerce Department on Thursday.

The report said gross domestic product surged by 2.4 percent in the fourth quarter compared to the previously reported 2.3 percent jump. Economists had expected the pace of GDP growth to be unrevised.

The Commerce Department said the upward revision primarily reflected a downward revision to imports, which are a subtraction in the calculation of GDP. A downward revision to consumer spending limited the upside.

Despite the upward revision, the GDP growth in the fourth quarter still reflects a slowdown from the 3.1 percent surge in the third quarter.

The deceleration in GDP in the fourth quarter primarily reflected downturns in investment and exports that were partly offset by an acceleration in consumer spending, the Commerce Department said.

On the inflation front, the report said the jump in consumer prices in the fourth quarter was unrevised at 2.4 percent.

The surge in core consumer prices, which exclude food and energy prices, was downwardly revised to 2.6 percent from 2.7 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Inflation Expectations Unchanged: ECB Survey (01 hr(s), 05 min(s), 51 sec(s) ago)
(RTTNews) - Euro area consumers' inflation expectations for the next 12 months and three years ...Full Story»

German Unemployment Rate Rises In March (06 hr(s), 51 min(s), 51 sec(s) ago)
(RTTNews) - German unemployment increased more than expected in March as economic downturn continu ...Full Story»

Mexico Jobless Rate Falls To 2.5% (06 hr(s), 55 min(s), 51 sec(s) ago)
(RTTNews) - Mexico's unemployment rate decreased in February after rising in the previous mont ...Full Story»

U.S. Consumer Sentiment Slumps More Than Previously Estimated In March (07 hr(s), 18 min(s), 51 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. fell by more than previously estimated in the month of ...Full Story»

Brazil Jobless Rate Rises To 6.8% (07 hr(s), 19 min(s), 51 sec(s) ago)
(RTTNews) - Brazil's unemployment rate decreased in the three months ending February, figures ...Full Story»

N. Macedonia Retail Sales Rise 1.2% In February (07 hr(s), 36 min(s), 51 sec(s) ago)
(RTTNews) - Retail sales in North Macedonia grew in February led by the increased demand for food ...Full Story»

Ireland Retail Sales Rise 0.7% (07 hr(s), 47 min(s), 51 sec(s) ago)
(RTTNews) - Ireland's retail sales increased in February after remaining flat in the previous ...Full Story»

Cyprus Industrial Production Growth Improves In January (07 hr(s), 56 min(s), 51 sec(s) ago)
(RTTNews) - Cyprus' industrial production rose for a second straight month and at a faster pac ...Full Story»