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.

The Gross Domestic Product (GDP) in the United States contracted 0.50 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

View economic output, reported as the nominal value of all new goods and services produced by labor and property located in the U.S.

The Gross Domestic Product (GDP) in the United States expanded 2 percent in the first quarter of 2025 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.

U.S. gdp growth rate for 2023 was 2.89%, a 0.38% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.S. gdp growth rate for 2022 was <strong>2.51%</strong>, a <strong>3.54% decline</strong> from 2021.</li>
<li>U.S. gdp growth rate for 2021 was <strong>6.06%</strong>, a <strong>8.22% increase</strong> from 2020.</li>
<li>U.S. gdp growth rate for 2020 was <strong>-2.16%</strong>, a <strong>4.75% decline</strong> from 2019.</li>
</ul>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.

****Dataset Overview**** This dataset contains historical macroeconomic data, featuring key economic indicators in the United States. It includes important metrics such as the Consumer Price Index (CPI), Retail Sales, Unemployment Rate, Industrial Production, Money Supply (M2), and more. The dataset spans from 1993 to the present and includes monthly data on various economic indicators, processed to show their rate of change (either percentage or absolute difference, depending on the indicator).

provenance

The data in this dataset is sourced from the Federal Reserve Economic Data (FRED) database, hosted by the Federal Reserve Bank of St. Louis. FRED provides access to a wide range of economic data, including key macroeconomic indicators for the United States. My work involved calculating the rate of change (ROC) for each indicator and reorganizing the data into a more usable format for analysis. For more information and access to the full database, visit FRED's website.

Purpose and Use for the Kaggle Community:

This dataset is a valuable resource for data scientists, economists, and analysts interested in understanding macroeconomic trends, performing time series analysis, or building predictive models. With the rate of change included, users can quickly assess the growth or contraction in these indicators month-over-month. This dataset can be used for:

• Exploratory Data Analysis (EDA): Understanding historical economic trends. -Time Series Forecasting: Building models to predict future economic conditions. -Macroeconomic Analysis: Analyzing the relationship between various economic indicators. -Machine Learning Projects: Using the data as features to predict financial or economic outcomes. -By utilizing this dataset, users can perform in-depth analysis on the impact of macroeconomic changes, compare the historical performance of various indicators, and experiment with different time series forecasting techniques.

****Column Descriptions****

Year: The year of the observation.

Month: The month of the observation (1-12).

Industrial Production: Monthly data on the total output of US factories, mines, and utilities.

Manufacturers' New Orders: Durable Goods: Measures the value of new orders placed with manufacturers for durable goods, indicating future production activity.

Consumer Price Index (CPIAUCSL): A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Unemployment Rate: The percentage of the total labor force that is unemployed but actively seeking employment.

Retail Sales: The total receipts of retail stores, indicating consumer spending and economic activity.

Producer Price Index: Measures the average change over time in the selling prices received by domestic producers for their output.

Personal Consumption Expenditures (PCE): A measure of the prices paid by consumers for goods and services, used in calculating inflation.

National Home Price Index: A measure of changes in residential real estate prices across the country.

All Employees, Total Nonfarm: The number of nonfarm payroll employees, an important indicator of the labor market.

Labor Force Participation Rate: The percentage of the working-age population that is either employed or actively looking for work.

Federal Funds Effective Rate: The interest rate at which depository institutions lend reserve balances to other depository institutions overnight.

Building Permits: The number of building permits issued for residential and non-residential buildings, a leading indicator of construction activity.

Money Supply (M2): The total money supply, including cash, checking deposits, and easily convertible near money.

Personal Income: The total income received by individuals from all sources, including wages, investments, and government transfers.

Trade Balance: The difference between a country's imports and exports, indicating the net trade flow.

Consumer Sentiment: The index reflecting consumer sentiment and expectations for the future economic outlook.

Consumer Confidence: A measure of how optimistic or pessimistic consumers are regarding their expected financial situation and the economy.

Notes on Interest Rates Please note that for the Federal Funds Effective Rate (FEDFUNDS), the dataset includes the absolute change in basis points (bps), not the rate of change. This means that the dataset reflects the direct change in the interest rate rather than the percentage change month-over-month. The change is represented in basis points, where 1 basis point equals 0.01%.

The statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2020 to 2024, with projections up until 2030. 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 2024, the growth of the real gross domestic product in the United States was around 2.8 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.

U.S. GDP for 2023 was 27.721 trillion US dollars, a 6.59% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.S. GDP for 2022 was <strong>26.007 trillion US dollars</strong>, a <strong>9.82% increase</strong> from 2021.</li>
<li>U.S. GDP for 2021 was <strong>23.681 trillion US dollars</strong>, a <strong>10.9% increase</strong> from 2020.</li>
<li>U.S. GDP for 2020 was <strong>21.354 trillion US dollars</strong>, a <strong>0.86% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices 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. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

United States US: GDP: saar: Changes in Inventories data was reported at 20.900 USD bn in 2016. This records a decrease from the previous number of 93.425 USD bn for 2015. United States US: GDP: saar: Changes in Inventories data is updated yearly, averaging 13.975 USD bn from Dec 1948 (Median) to 2016, with 69 observations. The data reached an all-time high of 93.425 USD bn in 2015 and a record low of -147.550 USD bn in 2009. United States US: GDP: saar: Changes in Inventories data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s United States – Table US.IMF.IFS: Gross Domestic Product: by Expenditure: Seasonally Adjusted: Annual.

Graph and download economic data for Contributions to Percent Change in Real GDP by Industry: Gross Domestic Product (CPGDPAI) from Q2 2005 to Q1 2025 about GDP, rate, and USA.

In 2024, the U.S. GDP increased from the previous year to about 29.18 trillion U.S. dollars. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2024, the United States has the largest economy in the world. 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.

United States US: GDP: Changes in Inventories data was reported at 35.078 USD bn in 2016. This records a decrease from the previous number of 111.943 USD bn for 2015. United States US: GDP: Changes in Inventories data is updated yearly, averaging 18.482 USD bn from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 111.943 USD bn in 2015 and a record low of -147.570 USD bn in 2009. United States US: GDP: Changes in Inventories data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Nominal. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and 'work in progress.' Data are in current local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Graph and download economic data for Contributions to percent change in real gross domestic product: Gross private domestic investment: Change in private inventories (A014RY2Q224SBEA) from Q2 1947 to Q1 2025 about contributions, inventories, investment, domestic, percent, private, real, GDP, and USA.

In 2023 the real gross domestic product (GDP) of the United States increased by 2.5 percent compared to 2022. This rate of annual growth indicates a return to economy normalcy after 2020 saw a dramatic decline in the GDP growth rate due to the the coronavirus (COVID-19) pandemic, and high growth in 2021.

What does GDP growth mean?

Essentially, the annual GDP of the U.S. is the monetary value of all goods and services produced within the country over a given year. On the surface, an increase in GDP therefore means that more goods and services have been produced between one period than another. In the case of annualized GDP, it is compared to the previous year. In 2023, for example, the U.S. GDP grew 2.5 percent compared to 2022.

Countries with highest GDP growth rate

Although the United States has by far the largest GDP of any country, it does not have the highest GDP growth, nor the highest GDP at purchasing power parity. In 2021, Libya had the highest growth in GDP, growing more than 177 percent compared to 2020. Furthermore, Luxembourg had the highest GDP per capita at purchasing power parity, a better measure of living standards than nominal or real GDP.

Graph and download economic data for Contributions to percent change in real private fixed investment in equipment and software: Nonresidential: Information processing equipment and software: Office and accounting equipment (B936RW2A224NBEA) from 1930 to 2023 about software, contributions, computers, accounting, nonresidential, fixed, investment, equipment, percent, private, real, GDP, and USA.

The Gross Domestic Product (GDP) in the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This map shows how the United States Gross Domestic Product (GDP) has changed from 1997 to 2016. This is shown by states, and is represented as a percent change over time. GDP values are in 2016 dollars.Data is from the US Bureau of Economic Analysis and was downloaded from here. The state boundaries are generalized 2010 state boundaries from the Census Bureau's 2010 MAF/TIGER database. Note-- NAICS Industry detail is based on the 2007 North American Industry Classification System (NAICS)

Graph and download economic data for Contributions to percent change in real gross domestic product: Exports of goods and services (A020RY2Q224SBEA) from Q2 1947 to Q1 2025 about contributions, exports, percent, goods, services, real, GDP, and USA.

United States Other Volume Changes: Federal Government data was reported at -85.859 USD bn in Mar 2018. This records a decrease from the previous number of 22.630 USD bn for Dec 2017. United States Other Volume Changes: Federal Government data is updated quarterly, averaging -0.399 USD bn from Dec 1951 (Median) to Mar 2018, with 266 observations. The data reached an all-time high of 87.012 USD bn in Jun 2008 and a record low of -85.859 USD bn in Mar 2018. United States Other Volume Changes: Federal Government data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.AB074: Integrated Macroeconomic Accounts: Total Economy and Sectors: Selected Aggregates.

United States Other Volume Changes: State & Local Government data was reported at 0.979 USD bn in Mar 2018. This records an increase from the previous number of -50.201 USD bn for Dec 2017. United States Other Volume Changes: State & Local Government data is updated quarterly, averaging -0.394 USD bn from Dec 1951 (Median) to Mar 2018, with 266 observations. The data reached an all-time high of 124.987 USD bn in Sep 2002 and a record low of -769.576 USD bn in Mar 2004. United States Other Volume Changes: State & Local Government data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.AB074: Integrated Macroeconomic Accounts: Total Economy and Sectors: Selected Aggregates.