Advance estimates indicate that the US economy grew by an annualised 2.3% on the quarter in Q4 2024, slightly lower than consensus expectations and marking a slowdown from the previous quarter.
Despite the lower-than-expected growth, Q4’s reading implies that real GDP growth amounted to 2.8% in 2024 overall, in line with Cebr’s expectations.
Indeed, the US has been and is likely to continue to be an outlier among advanced economies, which are struggling with a combination of elevated inflation, restrictive borrowing conditions and relatively poorer growth.
Today’s release will cement the Federal Reserve’s current stance on holding rates steady, given robust growth and a still-strong labour market.
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