U.S. economic growth slowed a bit more than expected in the final three months of 2024, the Commerce Department reported Thursday.

U.S. economic growth slowed in the fourth quarter as a strike at Boeing depressed business investment in equipment, but consumer spending increased at its fastest pace in nearly two years, underscoring strong domestic demand that probably keeps the Federal Reserve on a slow interest rate cut path this year.

U.S. economic growth slowed in the fourth quarter, but robust domestic demand will probably keep the Federal Reserve on a slow interest rate cut path this year. Gross domestic product increased at a 2.