U.S. economic growth was strong in 2024, but GDP probably slowed toward the end of the year, as households and businesses braced for new tariffs.

Economic growth in the US slowed at the end of last year, as trade declined more sharply than expected and the country was hit by hurricanes and labour strikes. The economy expanded at an annual rate of 2.

US real gross domestic product increased at an annualized rate of 2.3% in the fourth quarter of this past year, less than the forecast of 2.7%. That economic growth was far below expectations and shows a much cooler economy than the second and third quarter of the year.