The US economy grew by 2.8% in 2024, slightly slower than the previous year, but still above the accepted threshold for developed countries. Inflation-adjusted GDP for the final months of the year was lower than projections. Personal spending increased in Q4, particularly on healthcare and recreational goods, but some argue that it may be a reflection of higher prices. The Federal Reserve has decided to hold interest rates, with Chair Powell expressing a more dovish stance. Economic uncertainties are heightened due to looming tariff policies, making forecasting a challenge. Imports and inventories both decreased in Q4, which will be important to monitor as Trump's tariff plans develop.



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