GDP Hits 2.8% for 2024 [Video]

The U.S. economy closed out 2024 with strong momentum at 2.8 percent growth, driven by robust consumer spending.

Why It Matters

With President Donald Trump‘s return to the White House, the country could be poised for a major economic shift as his administration prepares to implement new policies that may redefine trade, taxation, and regulatory frameworks.

What To Know

The Commerce Department reported Thursday that the U.S. economy grew at a 2.3 percent annual rate in the fourth quarter, driven by strong consumer spending. The steady expansion underscores economic resilience heading into 2025, even as a new Trump administration prepares to reshape fiscal and trade policies.

For 2024, the U.S. economy posted a solid 2.8 percent growth, slightly below the 2.9 percent recorded in 2023.

Will Growth Continue?

Fourth-quarter expansion came in at …