How Is The Us Economy Doing In 2024 Today. Economy to expand 2.5% in 2024, the same as in 2023 but up sharply from the 1.6% the bank had predicted in january. The economy picked up sharply in the second quarter as a rise in consumer and business spending offset a drop in housing construction and a widening trade gap.
The deficit increased from $73.0 billion in june (revised) to $78.8 billion in july, as imports increased more. The q1 2024 forecast indicates an optimistic outlook for the economy, buoyed by a strong job market, consumer spending, and exports.
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