Economists expect that real GDP grew about 2.3% in the period, below the third quarter’s growth rate, due to a trade deficit in goods.

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 2.3% between October and December, down from 3.1% in the three months before, according to the US Commerce Department.

U.S. economic growth likely slowed in the fourth quarter as imports surged and a strike at Boeing hurt spending on aircraft, though strong domestic demand will probably keep the Federal Reserve on a shallow interest rate cut path this year.

The U.S. economy grew at a rate of 2.3% in the fourth quarter of 2024, according to a new estimate released by the Commerce Department's Bureau of Economic Analysis.