U.S. economic growth accelerated in the third quarter of 2024, meeting economists’ expectations and surpassing the previous estimate released last month.
The U.S. Bureau of Economic Analysis shared a revised report on Dec. 19, showing that the nation’s real gross domestic product grew at an annualized rate of 3.1% in 2024’s third quarter. That is up from the 2.8% shared in the second estimate report on Nov. 27 and first estimate shared on Oct. 30. The updated figure matched the forecasted 3.1% growth for 3Q based on the economists surveyed by the Associated Press.
The BEA said the 3Q real GDP acceleration primarily reflected increases in consumer spending, exports, nonresidential fixed investment and federal government spending,
When compared to the second quarter, the BEA said the acceleration in real GDP was offset by a downturn in private inventory investment and a larger decrease in residential fixed investment.
The 4Q and full-year 2024 GDP first estimate will be released on Jan. 30.
Related Posts
-
Doubling 1Q's growth, 2Q considerably outperformed economists' expectations.
-
It decelerated from 2Q, reflecting a downturn in private inventory investment and residential fixed investment.
-
HD expects SRS to contribute approximately $6.4 billion in incremental 2024 sales, according to the…
