U.S. economy grows solid 2.3% from October to December, 2.8% for full year 2024

The American economy ended 2024 on a solid note with consumer spending continuing to drive growth. The Commerce Department reported Thursday that gross domestic product — the economy’s output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year, the economy grew a healthy 2.8%, compared to 2.9% in 2023.