U.S. economy grows at annualized rate of 2.3% in Q4 2024

The U.S. economy grew at a solid 2-point-3 percent annualized rate in the fourth quarter of last year based on strong private consumption.

The Commerce Department reported on Thursday that the rate was unchanged from its initial estimate.

However, inflation indicators have been revised upward from previous reports, raising concerns about a price rebound.

U.S. GDP recorded strong growth in the 3 percent range for the second and third quarters of last year.

The Department said that the annual growth rate of 2024 was recorded at 2-point-8 percent.