The US economy expanded at a solid pace at the end of 2024, fueled by a generous tailwind from consumer spending that more than offset drags from a strike at Boeing Co. and much leaner inventory investment.

US economic growth slowed in the final quarter last year but still expanded at a solid pace, driven by consumer spending that will likely keep Federal Reserve interest rate cuts on hold. Gross domestic product,

The American economy ended 2024 on a solid note with consumer spending continuing to drive growth. The Commerce Department reported Thursday that gross domestic product — the economy’s output of goods and services — expanded at a 2.