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.

This data package includes the underlying data to replicate the charts and calculations presented in The International Economic Implications of a Second Trump Presidency, PIIE Working Paper 24-20.

If you use the data, please cite as:

McKibbin, Warwick, Megan Hogan, and Marcus Noland. 2024. The International Economic Implications of a Second Trump Presidency. PIIE Working Paper 24-20. Washington: Peterson Institute for International Economics.

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.

According to estimates, if President Trump's proposed tariffs go into effect permanently, the United States' GDP would decrease by 0.4 percent. Of this, 0.3 percent would be from the 25 percent tariff on all imports from Canada and Mexico, while 0.1 percent would be from the 10 percent tariff on all imports from China. As of February 10, China imposed retaliatory tariffs on the United States, with a 15 percent tariff on coal and liquid natural gas, and a 10 percent tariff on other exports, including oil, machinery, and large motor vehicles.

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.

This data package includes the underlying data to replicate the charts, tables, and calculations presented in The US Revenue Implications of President Trump’s 2025 Tariffs, PIIE Briefing 25-2.

If you use the data, please cite as:

McKibbin, Warwick, and Geoffrey Shuetrim. 2025. The US Revenue Implications of President Trump’s 2025 Tariffs. PIIE Briefing 25-2. Washington: Peterson Institute for International Economics.

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

According to a poll conducted at the end of 2022, Americans were feeling quite pessimistic about the coming year. 90 percent of Americans felt negatively about the prospect of political conflict in 2023.

The Economy 2022 was a difficult year for many Americans, as it was for many around the world. After a year of high inflation, record fuel prices, and decreased financial security, the country greeted 2023 with high rates of skepticism and caution. Although the U.S. economy itself has experienced a strong rebound from the pandemic recession compared with other major economies, a sustained decline in consumer spending power thanks to wage growth not keeping pace with inflation has everyday Americans feeling the pinch.

U.S. political landscape The political scene in the U.S. also had a tumultuous few years in the lead up to 2023. The election of Donald Trump as the 45th President of the United States in 2016 left many voters reeling and the country more divided than ever. The beginning of 2021 was market by the January 6th attack on the Capitol, as well as the inauguration of Joe Biden. Additionally, the country continued to grapple with a politicized response to the COVID-19 pandemic and associated restrictions. 2022 began with the Russian invasion of Ukraine, ushering in the beginning of a global fuel and inflation crisis. In the midst of hardening economic conditions, the Supreme Court overturned its ruling on Roe v. Wade, returning the power to decide abortion restrictions to state legislatures.

The 2022 midterm elections saw Republicans win enough seats to take back control of the House of Representatives, but saw the GOP ultimately underperform compared to predictions at the time. The first day of the 2023 congressional term was marked by the inability of the Republican Party to unify itself behind one candidate for Speaker of the House, leading to a once in a century multi-round of Speaker elections. With new members of the House not able to be sworn in until a Speaker is elected, 2023 had a difficult start.

United States The Economist YouGov Polls: 2024 Presidential Election: Donald Trump data was reported at 46.000 % in 29 Oct 2024. This stayed constant from the previous number of 46.000 % for 22 Oct 2024. United States The Economist YouGov Polls: 2024 Presidential Election: Donald Trump data is updated weekly, averaging 43.000 % from May 2023 (Median) to 29 Oct 2024, with 61 observations. The data reached an all-time high of 46.000 % in 29 Oct 2024 and a record low of 38.000 % in 31 Oct 2023. United States The Economist YouGov Polls: 2024 Presidential Election: Donald Trump data remains active status in CEIC and is reported by YouGov PLC. The data is categorized under Global Database’s United States – Table US.PR004: The Economist YouGov Polls: 2024 Presidential Election (Discontinued). If an election for president were going to be held now and the Democratic nominee was Joe Biden and the Republican nominee was Donald Trump, would you vote for...

The Politbarometer has been conducted since 1977 on an almost monthly basis by the Research Group for Elections (Forschungsgruppe Wahlen) for the Second German Television (ZDF). Since 1990, this database has also been available for the new German states. The survey focuses on the opinions and attitudes of the voting population in the Federal Republic on current political topics, parties, politicians, and voting behavior. From 1990 to 1995 and from 1999 onward, the Politbarometer surveys were conducted separately in the eastern and western federal states (Politbarometer East and Politbarometer West). The separate monthly surveys of a year are integrated into a cumulative data set that includes all surveys of a year and all variables of the respective year. The Politbarometer short surveys, collected with varying frequency throughout the year, are integrated into the annual cumulation starting from 2003.

Iran’s gross domestic product (GDP) inclined by 3.33 percent in 2020 after adjusting for inflation. This figure fell from 13.4 percent growth four years ago, which had been a reaction to sanctions lifting after the Joint Comprehensive Plan of Action (JPCOA) regarding Iran’s nuclear program. United States president Donald Trump ended that country’s participation in the deal, imposing new sanctions.

Political influence on the economy

Political tensions have hampered the economy of Iran, keeping growth low in spite of the country’s considerable oil reserves. The effect of these sanctions becomes obvious when looking at Iran’s oil exports to Europe over the past decade. Some analysts have blamed the new sanctions for the increase in Iran’s inflation rate, as well as the currency depreciation that has accompanied it.

Iran’s options

Although Iran’s main export partners are largely in Asia, many of the transactions are carried out using U.S. dollars. Even though other means of payment are possible, some countries worry about political ramifications of continuing trade relations with Iran. Iran’s greatest strength at the moment may be its low national debt, meaning that it can borrow a substantial amount of money if it can find a willing lender. However, given the instability of the political situation worldwide and regionally, it is difficult to assume that such a borrower exists at the moment.

RealClearPolitics - President Trump Approval - Economy

Replication files and appendices for, "Loyalists and Switchers: Characterizing Voters’ Responses to Donald Trump’s Campaign and Presidency." Abstract: Despite characterizations of the American electorate as rooted in immovable partisan loyalties, a crucial segment of voters shift their support to or away from an incumbent president. For example, Donald Trump’s campaign won support from a slice of voters who had previously backed Barack Obama, arguably through Trump’s appeals on immigration, economic growth, populist reform, and strong leadership. Other voters rejected Trump’s rhetoric and were not persuaded by his promises. Using two original surveys, we ask what opinions and perceptions characterize voters who remained loyal in their support for or opposition to Trump from the 2016 election into his presidency, and how their views compare with the views of voters who abandoned their previous support or opposition. We find that loyalty and switching cannot be explained by demographic characteristics; instead, particular sets of attitudes on race and immigration, populism and authoritarianism, and the nation’s and their own economic well-being are all associated with loyalty to and switching from this divisive president. Our findings suggest that voters’ support for incumbents is conditioned by issue attitudes and experience; switchers’ views reveal a lot about the strengths and vulnerabilities of a president.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of November 2020, 40 percent of respondents said they think the U.S. economy will get worse if Donald Trump is reelected president in 2020. However, nine percent said that they believe the U.S. economy will stay the same.

This is the dataset I used to figure out which sociodemographic factor including the current pandemic status of each state has the most significan impace on the result of the US Presidential election last year. I also included sentiment scores of tweets created from 2020-10-15 to 2020-11-02 as well, in order to figure out the effect of positive/negative emotion for each candidate - Donald Trump and Joe Biden - on the result of the election.

Details for each variable are as below: - state: name of each state in the United States, including District of Columbia - elec16, elec20: dummy variable indicating whether Trump gained the electoral votes of each state or not. If the electors casted their votes for Trump, the value is 1; otherwise the value is 0 - elecchange: dummy variable indicating whether each party flipped the result in 2020 compared to that of the 2016 - demvote16: the rate of votes that the Democrats, i.e. Hillary Clinton earned in the 2016 Presidential election - repvote16: the rate of votes that the Republicans , i.e. Donald Trump earned in the 2016 Presidential election - demvote20: the rate of votes that the Democrats, i.e. Joe Biden earned in the 2020 Presidential election - repvote20: the rate of votes that the Republicans , i.e. Donald Trump earned in the 2020 Presidential election - demvotedif: the difference between demvote20 and demvote16 - repvotedif: the difference between repvote20 and repvote16 - pop: the population of each state - cumulcases: the cumulative COVID-19 cases on the Election day - caseMar ~ caseOct: the cumulative COVID-19 cases during each month - Marper10k ~ Octper10k: the cumulative COVID-19 cases during each month per 10 thousands - unemp20: the unemployment rate of each state this year before the election - unempdif: the difference between the unemployment rate of the last year and that of this year - jan20unemp ~ oct20unemp: the unemployment rate of each month - cumulper10k: the cumulative COVID-19 cases on the Election day per 10 thousands - b_str_poscount_total: the total number of positive tweets on Biden measured by the SentiStrength - b_str_negcount_total: the total number of negative tweets on Biden measured by the SentiStrength - t_str_poscount_total: the total number of positive tweets on Trump measured by the SentiStrength - t_str_poscount_total: the total number of negative tweets on Trump measured by the SentiStrength - b_str_posprop_total: the proportion of positive tweets on Biden measured by the SentiStrength - b_str_negprop_total: the proportion of negative tweets on Biden measured by the SentiStrength - t_str_posprop_total: the proportion of positive tweets on Trump measured by the SentiStrength - t_str_negprop_total: the proportion of negative tweets on Trump measured by the SentiStrength - white: the proportion of white people - colored: the proportion of colored people - secondary: the proportion of people who has attained the secondary education - tertiary: the proportion of people who has attained the tertiary education - q3gdp20: GDP of the 3rd quarter 2020 - q3gdprate: the growth rate of the 3rd quarter 2020, compared to that of the same quarter last year - 3qsgdp20: GDP of 3 quarters 2020 - 3qsrate20: the growth rate of GDP compared to that of the 3 quarters last year - q3gdpdif: the difference in the level of GDP of the 3rd quarter compared to the last quarter - q3rate: the growth rate of the 3rd quarter compared to the last quarter - access: the proportion of households having the Internet access

According to new estimations, if the 2025 tariffs were to remain in place, the construction industry would be hit hardest, with estimates showing a decline of *** percentage points.

This data package includes the underlying data and files to replicate the calculations, charts, and tables presented in COVID-19 and the 2020 US presidential election: Did the pandemic cost Donald Trump reelection?, PIIE Working Paper 21-3.

If you use the data, please cite as: Noland, Marcus, and Eva (Yiwen) Zhang. (2021). COVID-19 and the 2020 US presidential election: Did the pandemic cost Donald Trump reelection?. PIIE Working Paper 21-3. Peterson Institute for International Economics

During a survey conducted in December 2020, 50 percent of respondents said they approve of how Donald Trump is handling the U.S. economy. 56 percent of respondents reported that they disapproved of how he is handling the coronavirus (COVID-19) pandemic.

President Trump's tariffs have significantly impacted the U.S. toy market, leading to increased prices and potential shortages, highlighting broader economic challenges.