KEY POINTS
- GDP accelerated at a 2.3% annualized pace in the fourth quarter, the Commerce Department said. Economists surveyed by Dow Jones had been expecting an increase of 2.5% after growth of 3.1% in the third quarter.
- For the full year, GDP accelerated 2.8%, compared with 2.9% in 2023.
- Consumer spending rose at a robust 4.2% pace and, as usual, amounted to about two-thirds of all activity.
- In other economic news, the Labor Department reported initial unemployment claims totaled 207,000 for the week ending Jan. 25, a sharp decline of 16,000 from the prior period and well below the forecast for 228,000.
Many media outlets have wrote it as "robust", "steady" or "promising". How much do you agree?