Government spending in the United States was last recorded at 34.4 percent of GDP in 2023 . This dataset provides - United States Government Spending To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Government total expenditures (W068RCQ027SBEA) from Q1 1960 to Q4 2024 about expenditures, government, GDP, and USA.

Graph and download economic data for Federal Government: Current Expenditures (FGEXPND) from Q1 1947 to Q4 2024 about expenditures, federal, government, GDP, and USA.

In case prices for goods and services go up significantly in 2023, over 20 percent of consumers around the world said they would shop less in general and cut down on spending as a response. A fifth of survey respondents said they would look for and purchase cheaper and better value products. Less than five percent of those surveyed worldwide believed inflation would be unlikely to impact their habits. What does inflation look like? The world entered a new inflation crisis in 2021, driven by a confluence of factors including the COVID-19 pandemic which restricted global supply chains, and the Russian-Ukraine war which exacerbated food and energy shortages. In 2022, global inflation hit 8.71 percent, the highest annual increase in decades. The rate of inflation is estimated to remain high in the near future, at around 6.9 percent in 2023 and 5.8 percent in 2024. Inflation dominated the list of most important problems facing the world according to a survey conducted in October 2023 – leading ahead of poverty and social inequality, crime and violence, and unemployment. In a global consumer trends survey, the majority of respondents said that inflation impacted them completely or a lot – for instance, seven in 10 respondents in the United States admitted they had been seriously impacted. Inflation’s impact on the holidays The end-of-year holiday season is typically regarded as a period of increased retail spending, driven by a series of major shopping events such as Black Friday and Cyber Monday, as well as the public holidays Thanksgiving and Christmas. However, inflation has put a damper on the holiday cheer, with consumers expressing their intentions to cut back spending amid the cost-of-living crisis. In 2022, a significant share of consumers in Europe said they planned to cut at least some related expenses. In fact, 40 percent of respondents in the United Kingdom planned to cut all expenses related to Black Friday and Christmas.

In economics, the inflation rate is a measure of the change in price of a basket of goods. The most common measure being the consumer price index. It is the percentage rate of change in price level over time, and also indicates the rate of decrease in the purchasing power of money. The annual rate of inflation for 2023, was 4.1 percent higher in the United States when compared to the previous year. More information on inflation and the consumer price index can be found on our dedicated topic page. Additionally, the monthly rate of inflation in the United States can be accessed here. Inflation and purchasing power Inflation is a key economic indicator, and gives economists and consumers alike a look at changes in prices in the wider economy. For example, if an average pair of socks costs 100 dollars one year and 105 dollars the following year, the inflation rate is five percent. This means the amount of goods an individual can purchase with a unit of currency has decreased. This concept is often referred to as purchasing power. The data presents the average rate of inflation in a year, whereas the monthly measure of inflation measures the change in prices compared with prices one year ago. For example, monthly inflation in the U.S. reached a peak in June 2022 at 9.1 percent. This means that prices were 9.1 percent higher than they were in June of 2021. The purchasing power is the extent to which a person has available funds to make purchases. The Big Mac Index has been published by The Economist since 1986 and exemplifies purchasing power on a global scale, allowing us to see note the differences between different countries currencies. Switzerland for example, has the most expensive Big Mac in the world, costing consumers 6.71 U.S. dollars as of July 2022, whereas a Big Mac cost 5.15 dollars in the United States, and 4.77 dollars in the Euro area. One of the most important tools in influencing the rate of inflation is interest rates. The Federal Reserve of the United States has the capacity to make changes to the federal interest rate . Changes to the rate of inflation are thought to be an imbalance between supply and demand. After COVID-19 related lockdowns came to an end there was a sudden increase in demand for goods and services with consumers having more funds than usual thanks to reduced spending during lockdown and government funded economic support. Additionally, supply-chain related bottlenecks also due to lockdowns around the world and the Russian invasion of Ukraine meant that there was a decrease in the supply of goods and services. By increasing the interest rate, the Federal Reserve aims to reduce spending, and thus bring demand back into balance with supply.

Graph and download economic data for FOMC Summary of Economic Projections for the Personal Consumption Expenditures less Food and Energy Inflation Rate, Range, High (JCXFERH) from 2025 to 2027 about core, projection, PCE, consumption expenditures, consumption, personal, inflation, rate, and USA.

The inflation rate in the United States is expected to decrease to 2.1 percent by 2029. 2022 saw a year of exceptionally high inflation, reaching eight percent for the year. The data represents U.S. city averages. The base period was 1982-84. In economics, the inflation rate is a measurement of inflation, the rate of increase of a price index (in this case: consumer price index). It is the percentage rate of change in prices level over time. The rate of decrease in the purchasing power of money is approximately equal. According to the forecast, prices will increase by 2.9 percent in 2024. The annual inflation rate for previous years can be found here and the consumer price index for all urban consumers here. The monthly inflation rate for the United States can also be accessed here. Inflation in the U.S.Inflation is a term used to describe a general rise in the price of goods and services in an economy over a given period of time. Inflation in the United States is calculated using the consumer price index (CPI). The consumer price index is a measure of change in the price level of a preselected market basket of consumer goods and services purchased by households. This forecast of U.S. inflation was prepared by the International Monetary Fund. They project that inflation will stay higher than average throughout 2023, followed by a decrease to around roughly two percent annual rise in the general level of prices until 2028. Considering the annual inflation rate in the United States in 2021, a two percent inflation rate is a very moderate projection. The 2022 spike in inflation in the United States and worldwide is due to a variety of factors that have put constraints on various aspects of the economy. These factors include COVID-19 pandemic spending and supply-chain constraints, disruptions due to the war in Ukraine, and pandemic related changes in the labor force. Although the moderate inflation of prices between two and three percent is considered normal in a modern economy, countries’ central banks try to prevent severe inflation and deflation to keep the growth of prices to a minimum. Severe inflation is considered dangerous to a country’s economy because it can rapidly diminish the population’s purchasing power and thus damage the GDP .

Continued high inflation in recent years has a direct and indirect impact on public finances at all levels of government. The often time-delayed effects of inflation on revenue and expenditure necessitate a comprehensive assessment of the budgetary consequences of inflation over several years. By comparing different inflation scenarios, the study analyses the impact of inflationary developments on state and local government budgets for the period from 2022 to 2025. As a result, revenue growth remains below the induced additional expenditure of subnational authorities.

Graph and download economic data for Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Range, High (PCECTPIRHLR) from 2009-02-18 to 2025-03-19 about projection, PCE, consumption expenditures, consumption, personal, inflation, rate, and USA.

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2024 about budget, federal, GDP, and USA.

Government Spending in New Zealand increased to 14776 NZD Million in the fourth quarter of 2024 from 14500 NZD Million in the third quarter of 2024. This dataset provides the latest reported value for - New Zealand Government Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the U.S. government had a budget deficit of 1.69 trillion U.S. dollars. This is compared to 2000, when the government had a budget surplus of 0.24 trillion U.S. dollars.

U.S. Government budget

The government budget is a financial statement that demonstrates the government’s suggested revenues and spending for the financial year. Budget surpluses occur when income exceeds expenditures. Budget deficits occur when spending exceeds income. The budget balance of the U.S. government has fluctuated since 2016, and is expected to decrease slightly by 2026.

Military spending

Defense outlays in the United States amounted to 714 billion U.S. dollars in 2020. It is expected to continue to increase over the next several years. The United States currently has the largest defense budget in the world, and is the largest employer in the world. The military budget funds the Army, Marine Corps, Navy, and Air Force. The amount of funding that goes towards the Department of Defense is heavily criticized by Democrats in the United States, because they believe that the funding should be more evenly distributed towards other social welfare programs such as public health insurance and education.

The United States recorded a Government Debt to GDP of 122.30 percent of the country's Gross Domestic Product in 2023. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) (PCEPILFE) from Jan 1959 to Jan 2025 about chained, core, energy, headline figure, PCE, consumption expenditures, consumption, personal, inflation, price index, indexes, price, and USA.

In 2023, over 54 percent of the Polish population with children wanted to save money for Christmas presents by buying on sale. Only 8.5 percent planned to purchase second-hand presents for their children, while over 42 percent planned to buy smaller gifts than in the last years.

Brazil State Government: North: Tocantins: Expenditure: Capital: Amortization Debt: Direct Application: Inflation & Foreign Contractual Debt Redeemed data was reported at 2,952,182.130 BRL in 2014. This records a decrease from the previous number of 11,211,278.670 BRL for 2013. Brazil State Government: North: Tocantins: Expenditure: Capital: Amortization Debt: Direct Application: Inflation & Foreign Contractual Debt Redeemed data is updated yearly, averaging 7,081,730.400 BRL from Dec 2013 (Median) to 2014, with 2 observations. The data reached an all-time high of 11,211,278.670 BRL in 2013 and a record low of 2,952,182.130 BRL in 2014. Brazil State Government: North: Tocantins: Expenditure: Capital: Amortization Debt: Direct Application: Inflation & Foreign Contractual Debt Redeemed data remains active status in CEIC and is reported by National Treasury Secretariat. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FE008: State Government Consolidated Budget: North: Tocantins.

According to a survey conducted between July 9 and July 11, 2022, 45 percent of Americans thought that Joe Biden was highly responsible for the current trend in the inflation rate. This is compared to 26 percent of Americans who said President Biden did not have a lot of responsibility for the current inflation rate.

Inflation in the U.S. Global events in 2022 had a significant impact on the United States. Inflation rose from 1.4 percent in January 2021 to 9.1 percent in June 2022. Significantly higher prices of basic goods led to increased concern over the state of the economy, and the ability to cover increasing monthly costs with the same income. Low interest rates, COVID-19-related supply constraints, corporate profiteering, and strong consumer spending had already put pressure on prices before Russia’s invasion of Ukraine in February 2022. Despite rising wages on paper, the rapid growth of consumer prices resulted in an overall decline in real hourly earnings in the first half of 2022.

How much control does Joe Biden have over inflation? The bulk of economic performance and the inflation rate is determined by factors outside the President’s direct control, but U.S. presidents are often held accountable for it. Some of those factors are market forces, private business, productivity growth, the state of the global economy, and policies of the Federal Reserve. Although high-spending decisions such as the 2021 COVID-19 relief bill may have contributed to rising inflation rates, the bill has been seen by economists as a necessary intervention for preventing a recession at the time, as well as being of significant importance to low-income workers impacted by the pandemic.

The most important tool for curbing inflation and controlling the U.S. economy is the Federal Reserve. The Reserve has the ability to set, raise, and lower interest rates and determine the wider monetary policy for the United States – something out of the president’s control. In June 2022, the Reserve announced it would raise interest rates 0.75 percent for the second time that year – hoisting the rate to a target range of 2.25 to 2.5 percent – in an attempt to slow consumer demand and balance demand with supply. However, it can often take time before the impacts of interventions by the Federal Reserve are seen in the public’s day-to-day lives. Most economists expect this wave of inflation to pass in a year to 18 months.

In 2023, Japan had an average inflation rate estimated at 3.21 percent, marking the highest rate of inflation in Japan in almost a decade. However, this figure was still very low compared to most other major economies, such as Japan's fellow G7 members, four of which had inflation rates around six or seven percent in 2023 due to the global inflation crisis. Why is Japan's inflation rate lower? There are a number of contributing factors to Japan's relatively low inflation rate, even during economic crises. Japan eased its Covid restrictions more slowly than most other major economies, this prevented post-pandemic consumer spending that may have driven inflation through supply chain issues caused by higher demand. As the majority of Japan's food and energy comes from overseas, and has done so for decades, the government has mechanisms in place to prevent energy and wheat prices from rising too quickly. Because of this, Japan was able to shield its private sector from many of the negative knock on effects from Russia's invasion of Ukraine, which had a significant impact on both sectors globally. Persistent deflation and national debt An additional factor that has eased the impact of inflation on Japan's economy is the fact that it experienced deflation before the pandemic. Deflation has been a persistent problem in Japan since the asset price bubble burst in 1992, and has been symptomatic of Japan's staggering national debt thereafter. For almost 30 years, a combination of quantitative easing, low interest rates (below 0.5 percent since 1995, and at -0.1% since 2016), and a lack of spending due to low wages and an aging population have combined to give Japan the highest national debt in the world in absolute terms, and second-highest debt in relation to its GDP, after Venezuela. Despite this soaring debt, Japan remains the fourth-largest economy in the world, behind the U.S., China, and Germany.

Attitudes to democracy and judgement on social and political relationships after the parliament election in Hungary. Behavior at the polls. Topics: Social origins; religious affiliation; employment in the agricultural or industrial sector; earlier membership in the Socialist Workers' Party; index of material standard of living; marital status; school instruction, occupational status and employment position of spouse; description of the municipality by means of identification numbers about education status and most important employment branches of residents; city size and development of number of residents; occupational position and Treiman Prestige Score; Hungarian Prestige Score; superior function and range of control; hours worked each week in primary employment and additional employment times; autonomy in structuring course of work; frequency with which respondent is addressed as superior; decision-making responsibility; personal income and income of spouse; total family income; religiousness; following one's conscience or obeying the law; attitude to forms of democratic conduct, political protest and civil disobedience; attitude to freedom of the press; attitude to democratic rights, even for racists; attitude to police surveillance, surveillance of telephone and mail as well as taking suspicious criminals into custody; attitude to the principle "in doubt for the accused"; general attitude regarding demonstrators, revolutionaries and racists; attitude to increased taxation of the rich; preferred measures of the government to support the economy such as e.g. wage and price controls, expenditure reduction, job creation measures, deregulation measures, subsidies and reduction of time worked each week; attitude to increased expenditures of the government for environmental protection, the public health system, the police, for the school system, the military, pensions, for unemployment benefits and for culture; preference for unemployment or inflation; assessment of the power of the trade union, industry and the government in the country; importance of trade unions; responsibility of the government for full employment, fighting inflation, the public health system, pensions, industrial growth, unemployment benefits and housing supply; postmaterialism index (short form and long form); comparison of the new government with the old one regarding its expertise, political orientation, moral integrity and better representation of the population; preference for detailed debates or rapid decisions by government and parliament; participation of respondent in the first election round on 25. March and in second election round on 8. April; behavior at the polls; party election or candidate election; most important influences on one's own voting decision; voting for the same candidates in second election round; reason for changed behavior at the polls; party preference (Sunday question); attitude to privatization of national property; attitude to privatization of the business of one's own employer; attitude to sale to foreign companies; attitude to reprivatization of land; privatized social system for Hungary; personal income from private undertakings; preferred role of the government in electricity provision, in the steel industry as well as with banks and insurance companies; anomy scale after Schaar-McClosky; political interest and frequency of political discussions with friends. Einstellungen zur Demokratie und Beurteilung der gesellschaftlichen und politischen Verhältnisse nach der Parlamentswahl in Ungarn; Wahlverhalten. Themen: Soziale Herkunft; Religionszugehörigkeit; Beschäftigung im agrarischen oder industriellen Sektor; frühere Mitgliedschaft in der Sozialistischen Arbeiterpartei; Index des materiellen Lebensstandards; Familienstand; Schulausbildung, beruflicher Status und Beschäftigungsposition des Ehepartners; Beschreibung der Gemeinde anhand von Kennzahlen über den Ausbildungsstand und die wichtigsten Beschäftigungszweige der Bewohner; Ortsgröße und Entwicklung der Einwohnerzahl; berufliche Position und Treiman-Prestige-Score; ungarischer Prestige-Score; Vorgesetztenfunktion und Kontrollspanne; Wochenarbeitsstunden in der Hauptbeschäftigung und zusätzliche Beschäftigungszeiten; Autonomie in der Gestaltung der Arbeitsabläufe; Häufigkeit, mit der der Befragte als Vorgesetzter angesprochen wird; Entscheidungskompetenz; eigenes Einkommen und Einkommen des Ehepartners; Gesamtfamilieneinkommen; Religiosität; dem Gewissen folgen oder dem Gesetz gehorchen; Einstellung zu Formen demokratischen Verhaltens, politischen Protests und zivilen Ungehorsams; Einstellung zur Pressefreiheit; Einstellung zu demokratischen Rechten, auch für Rassisten; Einstellung zur Polizeiüberwachung, Überwachung von Telefon und Briefverkehr sowie zum Festnehmen von verdächtigen Kriminellen; Einstellung zu dem Prinzip ´im Zweifel für den Angeklagten´; allgemeine Einstellung gegenüber Demonstranten, Revolutionären und Rassisten; Einstellung zu einer erhöhten Besteuerung der Reichen; präferierte Maßnahmen der Regierung zur Stützung der Wirtschaft wie z.B. Lohn- und Preiskontrollen, Ausgabenreduktion, Arbeitsbeschaffungsmaßnahmen, Deregulierungsmaßnahmen, Subventionen und Reduzierung der Wochenarbeitszeit; Einstellung zu vermehrten Ausgaben der Regierung für den Umweltschutz, für das Gesundheitswesen, für die Polizei, für das Schulwesen, für das Militär, für die Renten, für die Arbeitslosenunterstützung und für die Kultur; Präferenz für Arbeitslosigkeit oder Inflation; Einschätzung der Macht der Gewerkschaft, der Industrie und der Regierung im Lande; Wichtigkeit von Gewerkschaften; Verantwortung der Regierung für Vollbeschäftigung, Inflationsbekämpfung, Gesundheitswesen, Renten, industrielles Wachstum, Arbeitslosenunterstützung und Wohnversorgung; Postmaterialismus-Index (Kurzform und Langform); Vergleich der neuen Regierung mit der alten bezüglich ihres Sachverstands, ihrer politischen Ausrichtung, ihrer moralischen Integrität und der besseren Repräsentation der Bevölkerung; Präferenz für ausführliche Debatten oder schnelle Entscheidungen durch Regierung und Parlament; Wahlbeteiligung des Befragten bei der ersten Wahlrunde am 25. März und im zweiten Wahldurchgang am 8. April; Wahlverhalten; Parteienwahl oder Kandidatenwahl; wichtigste Einflüsse auf die eigene Wahlentscheidung; Wahl des gleichen Kandidaten im zweiten Wahldurchgang; Grund für ein verändertes Wahlverhalten; Parteipräferenz (Sonntagsfrage); Einstellung zur Privatisierung von Staatseigentum; Einstellung zur Privatisierung des Unternehmens des eigenen Arbeitgebers; Einstellung zum Verkauf an ausländische Firmen; Einstellung zu Reprivatisierung von Grund und Boden; privatisiertes Gesellschaftssystem für Ungarn; eigenes Einkommen aus Privatunternehmungen; präferierte Rolle der Regierung bei der Elektrizitätsversorgung, in der Stahlindustrie sowie bei Banken und Versicherungen; Anomie-Skala nach Schaar-McClosky; politisches Interesse und Häufigkeit politischer Diskussionen mit Freunden. Demographie: Alter; Geschlecht; Kinderzahl; Religiosität; Kirchgangshäufigkeit; Schulbildung; Beruf; Berufliche Position; Berufstätigkeit; Einkommen; Haushaltsgröße.

The government consumption expenditure as a share of GDP in Belgium, Luxembourg, and the Netherlands (Benelux) ranged from 16 to 27 percent in 2021. the Netherlands had the highest government expenditure as a share of GDP, closely followed by Belgium. On the other hand, Luxembourg had the lowest government consumption expenditure in the Benelux.