bee Calculated Risk On 2/27/2025 08:36:00 AM
From the Bea: Gross Domestic Product, 4th Quarter and Year 2024 (Second Estimate)
Real Gross Domestic Product (GDP) increased at an annual rate of 2.3 percent in the fourth Quarter of 2024 (October, November, and December), according to the second estimate released by the US Bureau of Economic Analysis. In the third quarter, real gdp increased 3.1 percent.
The increase in real GDP in the fourth Quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. … Real GDP was revised up by less than 0.1 percentage point from the advance estimate released last month, primarily reflecting upward revisions to government spending and exports that were partly offset by downward revisions to consumer spending and investment.
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Here is a comparison of second and advance estimates. PCE Growth was unrevised at 4.2%. Residential Investment was revised up from 5.3% to 5.4%.