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.

In the first quarter of 2024, the GDP of the United States was three percent higher compared to the first quarter of 2023. The gross domestic product refers to the market value of all final goods and services produced in a country within a given period. The GDP of the United States amounted to 25.46 trillion U.S. dollars in 2022. The annual GDP of the United States can be found here, the growth per quarter can be found here and the chained quarterly GDP growth can be found here.

The Gross Domestic Product (GDP) in Mexico expanded 0.20 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in China expanded 1.20 percent in the first quarter of 2025 over the previous quarter. This dataset provides - China GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Argentina expanded 0.80 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Argentina GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in South Korea contracted 0.20 percent in the first quarter of 2025 over the previous quarter. This dataset provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The latest data from show economic growth of 3.2 percent, which is a decrease from the rate of growth of 3.9 percent in the previous quarter and
an increase compared to the growth rate of 2.8 percent in the same quarter last year. The economic growth time series for Lithuania cover the period...

The Gross Domestic Product (GDP) in Spain expanded 0.60 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - Spain GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The latest data from show economic growth of 0.6 percent, which is an increase from the rate of growth of 0.4 percent in the previous quarter and
a decrease compared to the growth rate of 1.9 percent in the same quarter last year. The economic growth time series for Romania cover the period from...

The Gross Domestic Product (GDP) in Indonesia contracted 0.98 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Indonesia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of the last quarter of 2023, the gross domestic product (GDP) in Vietnam grew by approximately **** percent compared to the previous quarter. In that year, the overall GDP growth rate of the country was recorded at **** percent.

The latest data from show economic growth of -0.8 percent, which is an increase from the rate of growth of -3.3 percent in the previous quarter and
a decrease compared to the growth rate of 1.7 percent in the same quarter last year. The economic growth time series for Jamaica cover the period...

The Gross Domestic Product (GDP) in Argentina expanded 5.80 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Argentina GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product (GDP) in Brazil expanded 2.90 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Brazil GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Armenia expanded 5.20 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Armenia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Colombia expanded 0.80 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Colombia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The UK economy grew by 0.7 percent in the first quarter of 2025, compared with 0.1 percent growth in the previous quarter. After ending 2023 in recession, the UK economy grew strongly in the first half of 2024, growing by 0.8 percent in Q1, and 0.4 percent in Q2, with growth slowing in the second half of the year. In the third quarter of 2020 the UK experienced record setting growth of 16.8 percent, which itself followed the record 20.3 percent contraction in Q2 2020. Growing economy key to Labour's plans Since winning the 2024 general election, the UK's Labour Party have seen their popularity fall substantially. In February 2025, the government's approval rating fell to a low of -54 percent, making them almost as disliked as the Conservatives just before the last election. A string of unpopular policies since taking office have taken a heavy toll on support for the government. Labour hope they can reverse their declining popularity by growing the economy, which has underperformed for several years, and when measured in GDP per capita, fell in 2023, and 2024. Steady labor market trends set to continue? After a robust 2022, the UK labor market remained resilient throughout 2023 and 2024. The unemployment rate at the end of 2024 was 4.4 percent, up from four percent at the start of the year, but still one of the lowest rates on record. While the average number of job vacancies has been falling since a May 2022 peak, there was a slight increase in January 2025 when compared with the previous month. The more concerning aspect of the labor market, from the government's perspective, are the high levels of economic inactivity due to long-term sickness, which reached a peak of 2.84 million in late 2023, and remained at high levels throughout 2024.

The Gross Domestic Product (GDP) in Czech Republic expanded 0.70 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - Czech Republic GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Iran Real GDP Growth

• The Gross Domestic Product (GDP) in Iran expanded 5.0 % YoY in Mar 2022, following a growth of 6.7 % in the previous quarter.
• Real GDP Growth YoY data in Iran is updated quarterly, available from Jun 1989 to Mar 2022, with an average rate of 3.9 %.
• The data reached an all-time high of 22.7 % in Jun 1992 and a record low of -16.0 % in Sep 2008.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Bank of the Islamic Republic of Iran provides Real GDP in local currency, at 2016-2017 prices. Real GDP Growth prior to Q1 2020 is calculated from Real GDP at 2011-2012 prices. Real GDP Growth prior to Q2 2005 is calculated from Real GDP at 1997-1998 prices.


Related information about Iran Real GDP Growth

• In the latest reports, Nominal GDP of Iran reached 429.4 USD bn in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.5 % in Mar 2022.
• GDP Per Capita in Iran reached 11,557.0 USD in Mar 2021.
• Its Gross Savings Rate was measured at 36.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 32.9 % in Mar 2022.
• Public Consumption accounted for 18.0 % in Mar 2022.
• Private Consumption accounted for 45.2 % in Mar 2022.

Key information about Kazakhstan Real GDP Growth

• The Gross Domestic Product (GDP) in Kazakhstan expanded 3.4 % YoY in Mar 2023, following a growth of 4.0 % in the previous quarter.
• Real GDP Growth YoY data in Kazakhstan is updated quarterly, available from Mar 2006 to Mar 2023, with an average rate of 4.4 %.
• The data reached an all-time high of 11.8 % in Mar 2007 and a record low of -5.1 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan provides Real GDP in local currency, at 2005 prices.


Related information about Kazakhstan Real GDP Growth

• In the latest reports, Nominal GDP of Kazakhstan reached 79.9 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 14.4 % in Mar 2023.
• GDP Per Capita in Kazakhstan reached 11,380.5 USD in Dec 2022.
• Its Gross Savings Rate was measured at 44.9 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 25.1 % in Dec 2022.
• Public Consumption accounted for 8.7 % in Sep 2022.
• Private Consumption accounted for 46.5 % in Sep 2022.