Real gross domestic product (GDP) in the United States is expected to grow by just over two percent in 2025. Beyond that, growth is projected to ease, slipping from roughly 2.8 percent in 2024 to around 1.8 percent by 2030. The softer outlook points to an economy that is still expanding, but at a more subdued pace. Is U.S. debt sustainable? The U.S. economy continues to grapple with growing levels of public debt. The national debt is anticipated to reach approximately 122.5 percent of GDP in 2025, reflecting ongoing fiscal pressures. The U.S. is not alone in it high debt-to-GDP ratio. Other developed economies, including Japan, Singapore, and Italy, currently maintain even higher public debt burdens. Such levels could constrain future economic growth and narrow the range of policy options available to governments. Consumer sentiment in flux The University of Michigan’s Consumer Sentiment Index, a key gauge of confidence in the economy. In November 2025, it stood at 51, its lowest level since June 2022. Based on monthly surveys of households, it tracks consumers views on personal finances, buying conditions, and the broader economic climate.

The Gross Domestic Product (GDP) in the United States expanded 2.10 percent in the second 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.

United States US: GDP: Growth: Gross Value Added: Services data was reported at 2.621 % in 2015. This records an increase from the previous number of 2.221 % for 2014. United States US: GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 2.335 % from Dec 1998 (Median) to 2015, with 18 observations. The data reached an all-time high of 4.456 % in 1999 and a record low of -1.772 % in 2009. United States US: GDP: Growth: Gross Value Added: Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Historical dataset showing U.S. economic growth by year from 1947 to 2018.

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.

As of the first quarter of 2025, the GDP of the U.S. fell by 0.5 percent from the fourth 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.

Monthly and long-term United States economic indicators data: historical series and analyst forecasts curated by FocusEconomics.

Incorporating cross-country data helps forecast U.S. GDP growth in economic downturns.

Economic growth is easy to understand: it means that people have access to goods and services of increasing quantity and quality. What is hard, however, is to measure economic growth. This chart shows two ways of doing this for US growth over the past 160 years. The purple lines represent a straightforward approach: each line tracks the share of households with access to one specific good or service. Starting from the top, you see the rising provision of basic infrastructure like running water, flush toilets, and electric power. You can also see the increasing availability of communication technology: radios, TVs, the Internet, and mobile phones. And further down, you see the rise of technologies that reduced work at home: vacuum cleaners, washing machines, dryers, and dishwashers. This approach is very concrete; it shows practical ways in which the production and consumption of specific goods increased over time. The downside is that it only captures a limited number of particular goods. Millions of goods and services are produced and consumed, and most are not recorded with such precision. A way to measure how people’s access to the full range of goods and services changes is to measure people’s incomes. This way of measuring growth is shown in the top left panel. The data on average income, here measured by GDP per capita, tells us that the average American was 13 times poorer in 1860 than in 2022 (adjusted for inflation). These two ways of measuring economic growth have pros and cons: one is concrete but not comprehensive, the other is comprehensive but quite abstract. If we want to understand what growth means for our societies, I find it helpful to combine them both.

Historical dataset showing Virgin Islands (U.S.) economic growth by year from 2002 to 2022.

Key information about US Nominal GDP Growth

• United States Nominal GDP Growth was reported at 4.593 % in Jun 2025.
• This records a decrease from the previous number of 4.647 % for Mar 2025.
• US Nominal GDP Growth data is updated quarterly, averaging 5.036 % from Mar 1948 to Jun 2025, with 310 observations.
• The data reached an all-time high of 19.646 % in Mar 1951 and a record low of -6.728 % 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.

During the "Golden Age of Capitalism", from 1950 to 1973, GDP grew by annual averages of just under five percent in Western Europe*, four percent in the U.S., and ten percent in Japan. This period of prosperity came to an end with the recession of 1973-1975, however GDP growth rates did not return to their previous levels when the recession ended, as growth was fairly sporadic in the 1970s and then much slower throughout the 1980s. From 1973 to 1987, GDP grew annually at just two fifth of the Golden Age's rate in Europe and Japan, while the U.S.' annual rates were somewhat closer.

One major difference between the two given periods was that the U.S. was the dominant and most influential economy of all developed (non-communist) countries in the 1950s and 1960s, however, the 1970s and 1980s saw Japan and the European Communities (led by West Germany and France) emerge as major economic powers in their own right. While the U.S. remained the most powerful country in the world, other developed nations became more economically autonomous, and began asserting their own influence internationally.

Today's weakness in the US economy results from lack of aggregate demand, due to high and growing inequality, underinvestment in public infrastructure and technology that is complementary to private capital, continuing mild austerity, difficulties encountered in making the structural transformation from manufacturing to a service-based economy, and a financial sector failing to provide adequate funds to SMEs. An agenda to restore growth includes a carbon price, inducing climate investments; increased public investments in infrastructure and technology; fighting inequality through redistribution and rewriting the rules structuring the economy; and reforming the financial sector and the global reserve system.

Graph and download economic data for Longer Run FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, Midpoint (GDPC1CTMLR) from 2009-02-18 to 2025-09-17 about projection, real, GDP, rate, and USA.

Graph and download economic data for FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Median (GDPC1MD) from 2025 to 2028 about projection, median, real, GDP, rate, and USA.

This statistic compares key U.S. and Eurozone economic and financial data. In the 2nd Quarter of 2011, the Euro-zone economy grew by 0.2 percent, while the U.S. gained economic growth of 1.3 percent in the same period.

International Panel Data Analysis of the Effect of Digitalization on Economic Growth

Description

The effect of digitalization on economic growth is examined with reference to a cobb-Douglas production function. So, the dependent variable is the economic growth measured by the Gross Domestic Product per capita measured at 2015 constant US dollars. To reproduce the digitalization, we consider four indicators which are : 1. Number of fixe subscriptions (per 100 people) 2. Number of mobile cellular subscriptions (per 100 people) 3. Number of broadband subscriptions (per 100 people) 4. Number of individuals using the internet (%of population) 5. Digitalization level as obtained by applying a PCA Moreover, we include several macro-economic variables as control variables which affect the relationship between Digitalization and economic growth: 6. Investment measured by gross fixed capital formation (as percentage of GDP). 7. Trade openness which is a country’s trade volume used as a proxy for the degree of openness of a country’s economy (as percentage of GDP) and which is measured as the sum of imports and exports. 8. Labor force which is the total of labor force participation rate. 9. Inflation is measured by the consumer price index (%). 10. Population 11. Consumption is the government consumption expenditure for goods and services (as a percentage of GDP).

Categories

Finance, Economic Growth, Information and Communication Technologies, Emerging Country, Developing Countries

Acknowledgements & Source

Abderrazek ELKHALDI,Nadia Sghaier,Monia Chikhaoui

Data Source: https://data.mendeley.com/datasets/ctm7vvpp7n/1

This dataset contains historical quarterly data for the U.S. Real Gross Domestic Product, from the first quarter of 1947 to the Q2 2023. Real GDP is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, expressed in base-year prices, and is often considered an indicator of a country's standard of living.

The dataset has two columns:

Date: The end of the respective quarter (in MM/DD/0YYYY format). Value: The Real GDP at the end of the respective quarter.

Inspiration: Real GDP is a comprehensive measure of U.S. economic activity and a key tool for economic decision-making and forecasting. Real GDP is used by economists, policy-makers, researchers, and investors to understand the growth and performance of the U.S. economy over time.

Usability: The Real GDP data can be used for a variety of purposes:

Economic Analysis: It can be used for macroeconomic analysis and forecasting. Policy Understanding: It can help understand the impact and effectiveness of economic policies implemented by the U.S. government. Investment Analysis: GDP growth impacts financial markets, and this data can help investors understand and forecast market trends. Education: It can be used in classrooms for teaching economics, finance, and related disciplines.

United States US: GDP: Growth: Gross Value Added: Agriculture data was reported at 11.281 % in 2016. This records an increase from the previous number of 8.104 % for 2015. United States US: GDP: Growth: Gross Value Added: Agriculture data is updated yearly, averaging 4.146 % from Dec 1998 (Median) to 2016, with 19 observations. The data reached an all-time high of 19.391 % in 2013 and a record low of -14.900 % in 2007. United States US: GDP: Growth: Gross Value Added: Agriculture 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: Annual Growth Rate. Annual growth rate for agricultural value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

In 1913, the GDP per capita of the United States grew to more than double what it had been in 1870. The influx of migration to the United States allowed for an industrial boom, and high levels of innovation and expansion meant that the U.S. was at the forefront of technological advancements. High levels of exports also brought significant wealth to the country, as the U.S. extended its sphere of influence across the Americas and into Western Europe. Although a severe recession did halt economic growth in the 1870s and 1880s, the decades that followed saw rapid growth, and living standards and infrastructure improved to levels similar to Europe. Growth in Western Europe was comparatively lower than in the U.S. but was still strong throughout this period, particularly in France, Germany, and Scandinavia.