Another successful year for the US economy
During the last quarter of 2024, the US economy grew at an annual rate of 2.3%, according to the Bureau of Economic Analysis. This expansion was below the expected 2.6% and represented a slowdown from the 3.1% increase seen in the previous quarter.Main Factors Contributing to Economic ExpansionKey Drivers of Economic GrowthThe fourth-quarter growth was primarily driven by increases in consumer spending and government expenditures. Consumer spending, a significant component of the Gross Domestic Product (GDP), remained robust, reflecting sustained household consumption. Government spending also contributed positively, with notable increases in both federal and state expenditures.The growth rate of 2.3% in the fourth quarter marks the most sluggish quarterly expansion since 2018, when the ec...