The initial estimate for fourth quarter 2024 GDP indicates that the U.S. economy grew by 2.3%. This comes after growth rates of 1.6% in the first quarter, 3% in the second, and 3.1% in the third quarter last year. The increase in economic activity during the fourth quarter was largely fueled by rising government and consumer spending, although this was somewhat tempered by a decline in investment. Keep in mind that this data may be revised when the secondand final estimates are released in the coming months. Turning to unemployment, the latest claims data (Initial -16K to 207K; Continuing -42K to 1.858M) suggests that the labor market continues to maintain its current trend, with employers retaining their staff while also exhibiting a cautious approach to hiring.