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 annual rate in the fourth quarter of last year bolstered by private consumption.

This latest finding is unchanged from the Commerce Department's initial estimate and marks the second of three estimates of fourth-quarter economic growth with the final slated to be shared in late March.

Meanwhile also according to the Department the American economy rose 2-point-8 percent for the whole of 2024.

However inflation concerns have been raised as America also braces for the broader ripple effects of Trump tariffs.