The statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2019 to 2023, with projections up until 2029. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2023, the growth of the real gross domestic product in the United States was around 2.53 percent compared to the previous year. See U.S. GDP per capita and the US GDP for more information.

Real gross domestic product (GDP) of the United States

The gross domestic product (GDP) of a country is a crucial economic indicator, representing the market value of the total goods and services produced and offered by a country within a year, thus serving as one of the indicators of a country’s economic state. The real GDP of a country is defined as its gross domestic product adjusted for inflation.

An international comparison of economic growth rates has ranked the United States alongside other major global economic players such as China and Russia in terms of real GDP growth. With further growth expected during the course of the coming years, as consumer confidence continues to improve, experts predict that the worst is over for the United States economy.

A glance at US real GDP figures reveals an overall increase in growth, with sporadic slips into decline; the last recorded decline took place in Q1 2011. All in all, the economy of the United States can be considered ‘well set’, with exports and imports showing positive results. Apart from this fact, the United States remains one of the world’s leading exporting countries, having been surpassed only by China and tailed by Germany. It is also ranked first among the top global importers. Despite this, recent surveys revealing Americans’ assessments of the U.S. economy have yielded less optimistic results. Interestingly enough, this consensus has been mutual across the social and environmental spectrum. On the other hand, GDP is often used as an indicator for the standard of living in a country – and most Americans seem quite happy with theirs.

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

The Gross Domestic Product (GDP) in the United States was worth 27720.71 billion US dollars in 2023, according to official data from the World Bank. The GDP value of the United States represents 26.29 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The seasonally-adjusted national unemployment rate is measured on a monthly basis in the United States. In February 2025, the national unemployment rate was at 4.1 percent. Seasonal adjustment is a statistical method of removing the seasonal component of a time series that is used when analyzing non-seasonal trends. U.S. monthly unemployment rate According to the Bureau of Labor Statistics - the principle fact-finding agency for the U.S. Federal Government in labor economics and statistics - unemployment decreased dramatically between 2010 and 2019. This trend of decreasing unemployment followed after a high in 2010 resulting from the 2008 financial crisis. However, after a smaller financial crisis due to the COVID-19 pandemic, unemployment reached 8.1 percent in 2020. As the economy recovered, the unemployment rate fell to 5.3 in 2021, and fell even further in 2022. Additional statistics from the BLS paint an interesting picture of unemployment in the United States. In November 2023, the states with the highest (seasonally adjusted) unemployment rate were the Nevada and the District of Columbia. Unemployment was the lowest in Maryland, at 1.8 percent. Workers in the agricultural and related industries suffered the highest unemployment rate of any industry at seven percent in December 2023.

The Gross Domestic Product (GDP) in the United States expanded 2.50 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides the latest reported value for - United States GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Jamaica Google Search Trends: Travel & Accommodations: American Airlines data was reported at 4.000 Score in 19 Mar 2025. This records a decrease from the previous number of 5.000 Score for 18 Mar 2025. Jamaica Google Search Trends: Travel & Accommodations: American Airlines data is updated daily, averaging 5.000 Score from Dec 2021 (Median) to 19 Mar 2025, with 1205 observations. The data reached an all-time high of 22.000 Score in 04 Jul 2024 and a record low of 0.000 Score in 06 Mar 2025. Jamaica Google Search Trends: Travel & Accommodations: American Airlines data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Jamaica – Table JM.Google.GT: Google Search Trends: by Categories.

In 2023, the U.S. GDP increased from the previous year to about 27.36 trillion U.S. dollars. This increase in GDP can be attributed to a continued rebound from the impact of the coronavirus pandemic. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2023, the United States has the largest economy in the world. See, for example, the Russian GDP for comparison.

What is GDP? Gross domestic product is one of the most important indicators used to analyze the health of an economy. GDP is defined by the BEA as the market value of goods and services produced by labor and property in the United States, regardless of nationality. It is the primary measure of U.S. production. The OECD defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs).

GDP and national debt

Although the United States had the highest Gross Domestic Product (GDP) in the world in 2022, this does not tell us much about the quality of life in any given country. GDP per capita at purchasing power parity (PPP) is an economic measurement that is thought to be a better method for comparing living standards across countries because it accounts for domestic inflation and variations in the cost of living.

While the United States might have the largest economy, the country that ranked highest in terms of GDP at PPP was Luxembourg, amounting to around 141,333 international dollars per capita. Singapore, Ireland, and Qatar also ranked highly on the GDP PPP list, and the United States ranked 9th in 2022.

Key information about US Nominal GDP Growth

• United States Nominal GDP Growth was reported at 5.028 % in Dec 2024.
• This records a decrease from the previous number of 5.032 % for Sep 2024.
• US Nominal GDP Growth data is updated quarterly, averaging 6.138 % from Mar 1948 to Dec 2024, with 308 observations.
• The data reached an all-time high of 19.646 % in Mar 1951 and a record low of -6.835 % in Jun 2020.
• US Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

Retail Sales in the United States increased 0.20 percent in February of 2025 over the previous month. This dataset provides - U.S. December Retail Sales Increased More Than Forecast - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Palau Google Search Trends: Travel & Accommodations: American Airlines data was reported at 0.000 Score in 06 Mar 2025. This stayed constant from the previous number of 0.000 Score for 05 Mar 2025. Palau Google Search Trends: Travel & Accommodations: American Airlines data is updated daily, averaging 0.000 Score from Dec 2021 (Median) to 06 Mar 2025, with 1192 observations. The data reached an all-time high of 100.000 Score in 29 Mar 2024 and a record low of 0.000 Score in 06 Mar 2025. Palau Google Search Trends: Travel & Accommodations: American Airlines data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Palau – Table PW.Google.GT: Google Search Trends: by Categories.

Latvia Google Search Trends: Travel & Accommodations: American Airlines data was reported at 1.000 Score in 19 Mar 2025. This stayed constant from the previous number of 1.000 Score for 18 Mar 2025. Latvia Google Search Trends: Travel & Accommodations: American Airlines data is updated daily, averaging 0.000 Score from Dec 2021 (Median) to 19 Mar 2025, with 1205 observations. The data reached an all-time high of 55.000 Score in 09 Jan 2022 and a record low of 0.000 Score in 07 Mar 2025. Latvia Google Search Trends: Travel & Accommodations: American Airlines data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Latvia – Table LV.Google.GT: Google Search Trends: by Categories.

As of the third quarter of 2024, the GDP of the U.S. grew by 2.8 percent from the second quarter of 2024. GDP, or gross domestic product, is effectively a count of the total goods and services produced in a country over a certain period of time. It is calculated by first adding together a country’s total consumer spending, government spending, investments and exports; and then deducting the country’s imports. The values in this statistic are the change in ‘constant price’ or ‘real’ GDP, which means this basic calculation is also adjusted to factor in the regular price changes measured by the U.S. inflation rate. Because of this adjustment, U.S. real annual GDP will differ from the U.S. 'nominal' annual GDP for all years except the baseline from which inflation is calculated. What is annualized GDP? The important thing to note about the growth rates in this statistic is that the values are annualized, meaning the U.S. economy has not actually contracted or grown by the percentage shown. For example, the fall of 29.9 percent in the second quarter of 2020 did not mean GDP is suddenly one third less than a year before. In fact, it means that if the decline seen during that quarter continued at the same rate for a full year, then GDP would decline by this amount. Annualized values can therefore exaggerate the effect of short-term economic shocks, as they only look at economic output during a limited period. This effect can be seen by comparing annualized quarterly growth rates with the annual GDP growth rates for each calendar year.

Guinea Google Search Trends: Travel & Accommodations: American Airlines data was reported at 0.000 Score in 19 Mar 2025. This stayed constant from the previous number of 0.000 Score for 18 Mar 2025. Guinea Google Search Trends: Travel & Accommodations: American Airlines data is updated daily, averaging 0.000 Score from Dec 2021 (Median) to 19 Mar 2025, with 1205 observations. The data reached an all-time high of 100.000 Score in 05 Mar 2024 and a record low of 0.000 Score in 19 Mar 2025. Guinea Google Search Trends: Travel & Accommodations: American Airlines data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Guinea – Table GN.Google.GT: Google Search Trends: by Categories.

Central African Republic Google Search Trends: Travel & Accommodations: American Airlines data was reported at 0.000 Score in 18 Mar 2025. This stayed constant from the previous number of 0.000 Score for 17 Mar 2025. Central African Republic Google Search Trends: Travel & Accommodations: American Airlines data is updated daily, averaging 0.000 Score from Dec 2021 (Median) to 18 Mar 2025, with 1204 observations. The data reached an all-time high of 79.000 Score in 24 Jun 2023 and a record low of 0.000 Score in 18 Mar 2025. Central African Republic Google Search Trends: Travel & Accommodations: American Airlines data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Central African Republic – Table CF.Google.GT: Google Search Trends: by Categories.

This repository provides the data and MatLab code producing the figures and tables in "Estimating the Optimal Inflation Target from Trends in Relative Prices" by Klaus Adam and Henning Weber, American Economic Journal: Macroeconomics, forthcoming as of Febuary 2022.

United States Company's U.S. Employment: Next 6 Months: Increase data was reported at 56.000 % in Sep 2018. This records a decrease from the previous number of 58.000 % for Jun 2018. United States Company's U.S. Employment: Next 6 Months: Increase data is updated quarterly, averaging 34.500 % from Dec 2002 (Median) to Sep 2018, with 64 observations. The data reached an all-time high of 61.000 % in Mar 2018 and a record low of 6.000 % in Jun 2009. United States Company's U.S. Employment: Next 6 Months: Increase data remains active status in CEIC and is reported by Business Roundtable. The data is categorized under Global Database’s United States – Table US.S018: CEO Economic Outlook Survey.

Household Saving Rate in the United States increased to 4.60 percent in January from 3.50 percent in December of 2024. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

About this dataset

Context

The dataset presents the the household distribution across 16 income brackets among four distinct age groups in Mokena: Under 25 years, 25-44 years, 45-64 years, and over 65 years. The dataset highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories, aiding in data analysis and decision-making..

Key observations

• Upon closer examination of the distribution of households among age brackets, it reveals that there are 36(0.50%) households where the householder is under 25 years old, 1,776(24.57%) households with a householder aged between 25 and 44 years, 3,477(48.11%) households with a householder aged between 45 and 64 years, and 1,938(26.82%) households where the householder is over 65 years old.
• In Mokena, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Income brackets:

• Less than $10,000
• $10,000 to $14,999
• $15,000 to $19,999
• $20,000 to $24,999
• $25,000 to $29,999
• $30,000 to $34,999
• $35,000 to $39,999
• $40,000 to $44,999
• $45,000 to $49,999
• $50,000 to $59,999
• $60,000 to $74,999
• $75,000 to $99,999
• $100,000 to $124,999
• $125,000 to $149,999
• $150,000 to $199,999
• $200,000 or more

Variables / Data Columns

• Household Income: This column showcases 16 income brackets ranging from Under $10,000 to $200,000+ ( As mentioned above).
• Under 25 years: The count of households led by a head of household under 25 years old with income within a specified income bracket.
• 25 to 44 years: The count of households led by a head of household 25 to 44 years old with income within a specified income bracket.
• 45 to 64 years: The count of households led by a head of household 45 to 64 years old with income within a specified income bracket.
• 65 years and over: The count of households led by a head of household 65 years and over old with income within a specified income bracket.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Mokena median household income by age. You can refer the same here