U.S. GDP Jumps Slightly More Than Previously Estimated In Q4
(RTTNews) - The U.S. economy grew by slightly more than previously estimated in the fourth quarter of 2024, according to revised data released by the Commerce Department on Thursday.
The report said gross domestic product surged by 2.4 percent in the fourth quarter compared to the previously reported 2.3 percent jump. Economists had expected the pace of GDP growth to be unrevised.
The Commerce Department said the upward revision primarily reflected a downward revision to imports, which are a subtraction in the calculation of GDP. A downward revision to consumer spending limited the upside.
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