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.

The U.S. economy expanded throughout 2024, but growth slowed in the last three months of the year as businesses pulled back on investments and exported fewer goods overseas.

U.S. gross domestic product grew by 2,3% in Q4 2024 after expanding by 3.1% in Q3. Consumption was the lion's share of growth as investment fell on inventory declines.