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 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.

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 China expanded 1.60 percent in the fourth quarter of 2024 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 Indonesia expanded 0.53 percent in the fourth quarter of 2024 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 6.72 percent compared to the previous quarter. In that year, the overall GDP growth rate of the country was recorded at 5.05 percent.

During the fourth quarter of 2024, the GDP in Taiwan increased by about 1.8 percent compared to the same quarter of the previous year. GDP refers to the total market value of all goods and services that are produced within a country per quarter. It is an important indicator of the economic strength of a country.

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.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Bureau of Economic Analysis provides Nominal GDP in USD.

The Gross Domestic Product (GDP) in Czech Republic expanded 0.70 percent in the fourth quarter of 2024 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.

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.

Key information about United States Real GDP Growth

• The Gross Domestic Product (GDP) in United States expanded 1.6 % YoY in Mar 2023, following a growth of 0.9 % in the previous quarter.
• Real GDP Growth YoY data in US is updated quarterly, available from Mar 1948 to Mar 2023, with an average rate of 3.0 %.
• The data reached an all-time high of 13.4 % in Dec 1950 and a record low of -8.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Bureau of Economic Analysis provides Real GDP in USD, at chain linked 2012 prices.


Related information about United States Real GDP Growth

• In the latest reports, Nominal GDP of US reached 6,621.6 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 5.4 % in Mar 2023.
• GDP Per Capita in US reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 15.9 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 20.7 % in Mar 2023.
• Public Consumption accounted for 14.1 % in Mar 2023.
• Private Consumption accounted for 67.9 % in Mar 2023.

Graph and download economic data for Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ) from Q1 1950 to Q3 2024 about GDP and USA.

This table presents Gross Domestic Product (GDP) and its main components according to the expenditure approach. Data is presented as growth rates. In the expenditure approach, the components of GDP are: final consumption expenditure of households and non-profit institutions serving households (NPISH) plus final consumption expenditure of General Government plus gross fixed capital formation (or investment) plus net trade (exports minus imports).

When using the filters, please note that final consumption expenditure is shown separately for the Households/NPISH and General Government sectors, not for the whole economy. All other components of GDP are shown for the whole economy, not for the sector breakdowns.
The data is presented for G20 countries individually, as well as the OECD total, G20, G7, OECD Europe, United States - Mexico - Canada Agreement (USMCA), European Union and euro area.

These indicators were presented in the previous dissemination system in the QNA dataset.

See User Guide on Quarterly National Accounts (QNA) in OECD Data Explorer: QNA User guide
See QNA Calendar for information on advance release dates: QNA Calendar
See QNA Changes for information on changes in methodology: QNA Changes
See QNA TIPS for a better use of QNA data: QNA TIPS
Explore also the GDP and non-financial accounts webpage: GDP and non-financial accounts webpage
OECD statistics contact: STAT.Contact@oecd.org

According to the second preliminary announcement in March 2025, the real gross domestic product (GDP) of Japan in the fourth quarter of 2024 increased by 0.6 percent (seasonally adjusted) and 2.2 percent (annualized) compared to the previous quarter.GDP refers to the total market value of all goods and services that are produced within a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for the economic well-being of a country.

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.

The latest data from show economic growth of 3.62 percent, which is a decrease from the rate of growth of 4.05 percent in the previous quarter and
an increase compared to the growth rate of 2.38 percent in the same quarter last year. The economic growth time series for Brazil cover the period...

The Gross Domestic Product (GDP) in Peru expanded 0.70 percent in the third quarter of 2024 over the previous quarter. This dataset provides the latest reported value for - Peru 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.

The Gross Domestic Product (GDP) in Argentina expanded 1.10 percent in the fourth quarter of 2024 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 Romania expanded 0.80 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - Romania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.