WASHINGTON, Jan 30 (KUNA) - The US gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024, according to the advance estimate released Thursday by the US Bureau of Economic Analysis.
In its report, the BEA clarified that 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.
In the third quarter, real GDP increased 3.1 percent.
It pointed out that compared to the third quarter, the deceleration in real GDP in the fourth quarter primarily reflected downturns in investment and exports. Imports turned down.
The price index for gross domestic purchases increased 2.2 percent in the fourth quarter, compared with an increase of 1.9 percent in the third quarter. The personal consumption expenditures (PCE) price index increased 2.3 percent, compared with an increase of 1.5 percent.
Excluding food and energy prices, the PCE price index increased 2.5 percent, compared with an increase of 2.2 percent. (end) rsr.ibi