US Economy Grew 0.7% in Fourth Quarter, Down from Initial 1.4% Estimate

The United States economy expanded by 0.7% in the fourth quarter of 2024, according to revised government data that significantly lowered the initial growth estimate. The Commerce Department had originally projected economic expansion of 1.4% for the quarter, making the final figure roughly half of what was initially anticipated. The substantial downward revision reflects updated data collection and analysis that provided a more accurate picture of economic activity during the final three months of the year.