US GDP expands by 2.4% in Q4 vs. 2.3% in previous estimate

• US' GDP grew at an annual rate of 2.4% in the fourth quarter of 2024.
• The US Dollar Index stays in negative territory above 104.50.

The US Bureau of Economic Analysis (BEA) reported on Thursday that the United States' Gross Domestic Product (GDP) expanded at an annual rate of 2.4% in the fourth quarter. This reading came in above the market expectation and the previous estimate of 2.3%.

"The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased," the BEA explained in its press release.

Market reaction

The US Dollar (USD) fails to benefit from this data. At the time of press, the USD Index was down 0.35% on the day at 104.32.