Is the economy good or bad right now

The economy slowed late last year but still turned in a solid performance as another burst of consumer spending was offset by a drop in business investment and stockpiling.

The nation’s gross domestic product, the value of all goods and services produced in the U.S., expanded at a seasonally adjusted annual rate of 2.3% in the October-to-December period, the Commerce Department said Wednesday.

That’s down from a 3.1% increase in the third quarter and an average 2.6% pace the first nine months of the year.

Economists surveyed by Bloomberg had forecast a 2.6% increase in output.

How much did the economy grow last year?

For all of 2024, the economy grew 2.8%, down just slightly from a 2.9% clip the previous year.

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The report paints a generally positive picture of the economy in the final months of former President Joe Biden’s administration.

But it also may reflect the business uncertainty generated by then-incoming President Trump’s tariff

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