Economy experts share insight into the economic outlook for 2025 [Video]

TAMPA, Fla. — There are multiple ways to measure the economy and how successful it was in 2024, according to University of South Florida instructor of economics Michael Snipes.

“If we’re talking about measuring economic through GDP, Gross Domestic Product, that tends to be kind of the most common way to define and kind of measure the economy. And in terms of that, we did have pretty solid, pretty good economic growth. GDP was up, growth was good,” said Snipes.

He believes that, ultimately, the Fed’s action with interest rates this year was pretty predictable and had a steadying effect.

However, 2024 was hard on consumers, too— with decreased purchasing power and inflation still hitting people hard regarding housing and groceries.

“For a lot of people, 2024 was going to be really kind of characterized by inflationary pressures,” said Snipes.

So what does 2025 look like?

Economists expect the first few months will be a bit …