The third estimate of US GDP in Q4 2024 sees two key revisions:

• Real GDP growth revised up 0.1 ppt to 2.4%.
• Core PCE inflation (quarterly SAAR rate) revised down -0.1 ppt to 2.6%.
• Gross domestic purchases price index (quarterly SAAR rate) revised down -0.1 ppt to 2.2%.

Other key results:

• Compared to Q3 2024, the deceleration in real GDP in Q4 2024 primarily reflected downturns in investment and exports that were partly offset by an acceleration in consumer spending. Imports turned down.
• From an industry perspective, the increase in real GDP reflected an increase of 2.3% in real value added for private goods-producing industries, an increase of 2.4% for private services-producing industries, and an increase of 2.7% for government.
• Real gross output increased 1.7% in Q4 2024, reflecting an increase of 0.3% for private goods-producing industries, an increase of 2.0% for private services-producing industries, and an increase of 3.1% for government.
• Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $204.7 billion in the fourth quarter, in contrast to a decrease of $15.0 billion in the third quarter.