U.S. Economy Surges 2.4% in Q4 on Revised Growth Estimate
In the last quarter of 2024, the U.S. economy showed robust growth with an annual rate of 2.4%, fueled largely by increased consumer expenditure towards the end of the year, according to a report released Thursday by the government. improvement over its earlier projection of fourth-quarter growth. However, it remains uncertain whether the United States will be able to maintain that level of growth. President Donald Trump initiates trade conflicts. , purges the federal workforce and promises mass deportations of immigrants working in the country without proper authorization. The growth in the country's gross domestic product – which measures the total production of goods and services – slowed down to a rate of 3.1% during the period from July to September 2024, as reported by the Commerce Department. Throughout the entire year of 2024, the economy — the largest globally — expanded by 2.8%, slightly less than the 2.9% growth recorded in 2023. Personal consumpti...