• Prior 1.0%
• GDP YoY annualized 2.6% vs 1.8% estimate
• GDP MoM 0.2% versus 0.3% estimate

Details

• Q4 2024 Household Spending: +1.4%, strongest growth since Q2 2022.
• Key Q4 Drivers: New trucks, vans, SUVs; financial services; telecom services.
• 2024 vs. 2023 Household Spending: +2.4% (Goods: +1.6%, Services: +3.0%).
• Top 2024 Contributors: New vehicles, rent, telecom, financial services.
• Per Capita Spending: +1.0% in Q4 2024, -0.6% for full year 2024.

This article was written by Greg Michalowski at www.forexlive.com.