The US economy increased by 2.3% in the fourth quarter

Growth has slowed down, but remained resilient at the end of 2024, leaving the American economy on a solid basis before a new year – and a new presidential administration – which is full of uncertainty.

The American gross domestic product, adjusted to inflation, increased at an annual rate of 2.3% in the fourth quarter of last year, the trade department reported on Thursday. This was down compared to the growth rate of 3.1% in the third quarter, but nevertheless represented an encouraging end for one year during which the economy once again challenged expectations.

The figures are preliminary and will be revised at least twice as much as more complete data will become available.

For the year as a whole, measured from the end of 2023 to the end of 2024, GDP increased by 2.5%, well in advance on the expectations of forecasters at the start of the year. Robust consumption expenses, supported by low unemployment and regular growth in wages, have helped maintain the economy on the right track despite high interest rates, stunned inflation and political disorders in the country and stranger.

“We finished on a fairly strong note,” said Diane Swonk, chief economist of the KPMG accounting cabinet. “It is amazing resilience and strong economy.”

But the economy entered the new year faced with a new set of challenges. The whirlwind begins for the second term of President Trump – including radical changes to immigration policy, a freezing of expenses which was announced and then canceled, and steep prices that could start taking effect this weekend – has increased uncertainty for households and businesses. And although the complete scope of Mr. Trump’s plans is not clear, economists warn that his proposals on trade and immigration, in particular, could lead to faster inflation, slower growth or both .