The United States' gross domestic product (GDP) observed an annual increase of 2.3% in the fourth quarter, the Bureau of Economic Analysis (BEA) stated in its second estimate released on Thursday. The figure matched analysts' expectations and the one given in the first preliminary report.
According to the report, the personal consumption expenditures (PCE) price index rose by 2.4% year-on-year in the reported quarter, revised up by 0.1 percentage point from the first estimate. Meanwhile, the PCE price index, excluding food and energy prices, increased by 2.7% on an annual basis, revised up by 0.2 percentage point from the previous estimate.
For the full year 2024, the country's GDP expanded by 2.8%, in line with the first report. The PCE price index observed a 2.5% increase, and the core PCE inflation, excluding food and energy prices, was up by 2.8% on a yearly basis, with both figures matching the previous report.
