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 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 fourth quarter of 2024, the growth of the real gross domestic product (GDP) in China ranged at 5.4 percent compared to the same quarter of the previous year. Leasing and business services displayed the highest sectoral growth reaching 11.0 percent compared to 2.0 percent in the real estate sector.

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 France contracted 0.10 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides the latest reported value for - France GDP 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 Germany contracted 0.20 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2022, the global economic development slowed down. After bouncing back and being on track to recover from the disruptions caused by the COVID-19 pandemic, economies worldwide started suffering again due to high inflation and disrupted supply chains. During the second quarter of 2024, the GDP growth rate in the countries included varied, with the GDP of India growing by 1.3 percent. Meanwhile, the GDP of Germany shrunk by 0.1 percent in the second quarter of 2024.

The Gross Domestic Product (GDP) in Japan expanded 0.60 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

Graph and download economic data for Gross Domestic Product: All Industry Total in California (CANQGSP) from Q1 2005 to Q3 2024 about GSP, CA, industry, GDP, and USA.

The Gross Domestic Product (GDP) in Latvia expanded 0.10 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Graph and download economic data for Real Gross Domestic Product for Denmark (CLVMNACSCAB1GQDK) from Q1 1991 to Q4 2024 about Denmark, real, and GDP.

Graph and download economic data for Gross Domestic Product: All Industry Total in Utah (UTNQGSP) from Q1 2005 to Q3 2024 about UT, GSP, industry, GDP, and USA.

In the fourth quarter of 2024, the quarterly gross domestic product of the United Kingdom was approximately, 641 billion British pounds, compared with around 632.4 billion pounds in the same quarter. The large dip in GDP that can be seen in the second quarter of 2020 saw the UK economy fall from 604.7 billion pounds to 481.8 billion, with more usual levels of output not recovering until well into 2021. The COVID-19 lockdowns enacted by the UK government at that time was the main reason for this large fall in GDP. Growth lagging as UK heads into 2025 After ending 2023 in recession, the UK economy started 2024 with the strongest quarterly GDP growth in several years, growing by 0.7 percent in the first quarter, and then by 0.4 percent in the second quarter. Economic growth in the second half of the year was, however, far less promising, with GDP flatlining in the third quarter, and monthly GDP shrinking by 0.1 percent in September and then again in October. Although GDP is still forecast to grow in 2025, the overall economic picture is precarious. In November, UK inflation rose to 2.6 percent, compared with just 1.7 percent in September, while the labor market continues to show signs of cooling after a period of high job vacancies and low unemployment. Labour pinning hopes on long-term growth After winning its first general election in 19 years in 2024, the Labour Government has seen its approval ratings plummet in its first few months in office. This shaky start is partly due to a government strategy of making unpopular decisions early in their tenure, which they hope will eventually encourage stable economic growth in the mid to long-term. By far the least popular policy was the withdrawal of winter fuel benefits for a significant number of pensioners, a cost-cutting measure deemed necessary due to the UK's vulnerable public finance position, with government debt at around 100 percent of GDP. A further measure introduced was a national insurance tax increase for employers, with almost half of UK firms citing increased taxes as their main external concern in Q3 2024. Avoiding any further tax rises or cuts to services will depend on if policies in other areas, such as planning reform, will kickstart the UK economy in time before the next election.

The statistic shows the growth of the real gross domestic product (GDP) in India from the second quarter 2021 to second quarter 2023. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In the second quarter of 2023, the real GDP in India grew by 7.8 percent, compared to the same quarter of the previous year.

Argentina's real gross domestic product (GDP) increased between the first quarter of 2021 and the same quarter of 2023. In 2020, the impact of the COVID-19 pandemic seems to have worsened Argentina's dwindling economic growth. From April to June of 2020, the total value of goods and services produced in Argentina fell to 609 billion pesos according to 2004 prices, the lowest value registered since the first quarter of 2009, after the global financial crisis of 2008. By the last quarter of 2021, GDP had grown to 698 billion pesos.

In the second quarter of 2020, after the outbreak of COVID-19, the quarterly growth rate of the gross domestic product (GDP) in Sweden fell by almost eight percent compared to the same quarter in 2019. The growth rate kept decreasing until the first quarter of 2021. In the second quarter of 2021, the quarterly GDP growth rate in Sweden was positive for the first time since the outbreak of COVID-19, and continued to be so until the final quarter of 2022, when it decreased by 0.5 percent compared to the same quarter in 2021 due to the high inflation rates in the country. The GDP of Sweden decreased through the last three quarters of 2023.

Key information about Algeria Real GDP Growth

• The Gross Domestic Product (GDP) in Algeria expanded 2.0 % YoY in Sep 2024, following a growth of 3.7 % in the previous quarter.
• Real GDP Growth YoY data in Algeria is updated quarterly, available from Mar 2000 to Sep 2024, with an average rate of 3.1 %.
• The data reached an all-time high of 8.1 % in Jun 2021 and a record low of -10.2 % in Jun 2020.

CEIC extends history for quarterly Real GDP Growth. The National Office of Statistics provides Real GDP Growth at chain linked previous year prices based on SNA 2008. Real GDP Growth prior to Q1 2002 is based on SNA 1993.


Related information about Algeria Real GDP Growth

• In the latest reports, Nominal GDP of Algeria reached 51.3 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 2.0 % in Sep 2024.
• GDP Per Capita in Algeria reached 3,630.4 USD in Dec 2021.
• Its Gross Savings Rate was measured at 36.1 % in Dec 2021.
• For Nominal GDP contributions, Investment accounted for 37.7 % in Dec 2023.
• Public Consumption accounted for 16.9 % in Dec 2023.
• Private Consumption accounted for 41.2 % in Dec 2023.