U.S. economy expands by 2.3% in fourth quarter

Investing.com - The U.S. economy grew by 2.3% in the fourth quarter, slowing from the prior three-month period, although other signs of resilient consumer demand could keep the Federal Reserve on track to carefully approach future potential interest rate cuts this year.

Gross domestic product in the final three months of 2024 eased at an annualized rate from a pace of 3.1% in the July-September quarter, according to advance data from the Commerce Department on Thursday.

Economists had expected the reading to decelerate to 2.7%.

(This is a developing story. Please check back later for updates.)

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