US economy grows by 2.4% in Q4 2024 driven by consumer spending; uncertainties loom for 2025.

The latest economic data from the United States reveals a 2.4% growth in the final quarter of 2024, primarily driven by robust consumer spending. Nevertheless, there was a decrease in business investment and inventories. Inflationary forces surged, raising concerns about the economic forecast for 2025 amidst the uncertainties surrounding tariffs and trade strategies of President Donald Trump. The dip in consumer confidence could potentially have repercussions on forthcoming economic expansion.

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