Shoppers in the Soho neighborhood of New York on March 26, 2025. Photographer: Yuki Iwamura/Bloomberg.

The U.S. economy expanded at a faster pace in the fourth quarter of 2024 than previously estimated, amid a robust increase in corporate profits.

Gross domestic product (GDP) advanced at a 2.4 percent annualized rate in the October-to-December period, according to the third release of the figures from the Bureau of Economic Analysis (BEA). The Federal Reserve’s preferred inflation metric—the core personal consumption expenditures (PCE) price index, excluding food and energy—was revised downward to 2.6 percent.

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