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30 January 2025 / Brief
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Copy LinkReal GDP headline growth of 2.3 percent quarter-over-quarter annualized masked a stronger underlying pace of growth in the economy at the end of 2024.
Final sales to domestic purchasers (GDP excluding trade and inventories) grew at a more robust 3.1 percent pace. While consumer performance remained extremely solid throughout 2024, an atypical double-digit surge in durable goods consumption in Q4 hints at consumers stockpiling behavior ahead of anticipated tariff-driven price increases. Such strength may borrow growth from the future quarters.
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