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 3 percent in the second 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.

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.

Graph and download economic data for Total Real Gross Domestic Product for Great Falls, MT (MSA) (RGMP24500) from 2001 to 2023 about Great Falls, MT, real, industry, GDP, and USA.

In 2020, global gross domestic product declined by 6.7 percent as a result of the coronavirus (COVID-19) pandemic outbreak. In Latin America, overall GDP loss amounted to 8.5 percent.

The statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2020 to 2024, with projections up until 2030. 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 2024, the growth of the real gross domestic product in the United States was around 2.8 percent compared to the previous year. See U.S. GDP per capita and the US GDP for more information. Real gross domestic product (GDP) of the United States The gross domestic product (GDP) of a country is a crucial economic indicator, representing the market value of the total goods and services produced and offered by a country within a year, thus serving as one of the indicators of a country’s economic state. The real GDP of a country is defined as its gross domestic product adjusted for inflation. An international comparison of economic growth rates has ranked the United States alongside other major global economic players such as China and Russia in terms of real GDP growth. With further growth expected during the course of the coming years, as consumer confidence continues to improve, experts predict that the worst is over for the United States economy. A glance at US real GDP figures reveals an overall increase in growth, with sporadic slips into decline; the last recorded decline took place in Q1 2011. All in all, the economy of the United States can be considered ‘well set’, with exports and imports showing positive results. Apart from this fact, the United States remains one of the world’s leading exporting countries, having been surpassed only by China and tailed by Germany. It is also ranked first among the top global importers. Despite this, recent surveys revealing Americans’ assessments of the U.S. economy have yielded less optimistic results. Interestingly enough, this consensus has been mutual across the social and environmental spectrum. On the other hand, GDP is often used as an indicator for the standard of living in a country – and most Americans seem quite happy with theirs.

Total Quantity Indexes for Real GDP for Great Falls, MT (MSA) was 112.48800 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Great Falls, MT (MSA) reached a record high of 112.48800 in January of 2023 and a record low of 83.94000 in January of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Great Falls, MT (MSA) - last updated from the United States Federal Reserve on July of 2025.

Total Quantity Indexes for Real GDP for Waterloo-Cedar Falls, IA (MSA) was 103.29600 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Waterloo-Cedar Falls, IA (MSA) reached a record high of 105.12200 in January of 2021 and a record low of 64.55900 in January of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Waterloo-Cedar Falls, IA (MSA) - last updated from the United States Federal Reserve on June of 2025.

Total Quantity Indexes for Real GDP for Glens Falls, NY (MSA) was 114.77100 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Glens Falls, NY (MSA) reached a record high of 123.46500 in January of 2021 and a record low of 79.80100 in January of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Glens Falls, NY (MSA) - last updated from the United States Federal Reserve on July of 2025.

Total Quantity Indexes for Real GDP for Idaho Falls, ID (MSA) was 128.33600 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Idaho Falls, ID (MSA) reached a record high of 140.22000 in January of 2019 and a record low of 77.18100 in January of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Idaho Falls, ID (MSA) - last updated from the United States Federal Reserve on July of 2025.

The growth of the real gross domestic product (GDP) in Sweden lies at approximately 1.86 percent in 2025.Fluctuating decline between 1980 and 2025A comparison to the earliest shown observation from 1980 reveals a total decrease by approximately 2.70 percentage points. The trajectory from 1980 to 2025 shows however that this decrease did not happen continuously.Fluctuating decline between 2025 and 2030In 2030 the growth will stand at close to 1.69 percent, according to forecasts. Compared to 2025 that is an overall decrease by approximately 0.17 percentage points.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

Graph and download economic data for Real Gross Domestic Product: Government and Government Enterprises in Fairfax, Fairfax City + Falls Church County, VA (REALGDPGOVT51919) from 2001 to 2023 about Fairfax City + Falls Church, enterprises, VA, government, real, GDP, and USA.

Graph and download economic data for Total Quantity Indexes for Real GDP for Wichita Falls, TX (MSA) (QGMP48660) from 2001 to 2023 about Wichita Falls, quantity index, TX, real, industry, GDP, and USA.

Real GDP per capita (LCU) of United States of America rose by 1.80% from 67,312 LCU in 2023 to 68,522 LCU in 2024. Since the 2.56% decline in 2020, real GDP per capita (LCU) leapt by 12.10% in 2024. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices 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.

In 2024, the growth of the real gross domestic product (GDP) in Peru amounted to approximately 3.33 percent. Between 1980 and 2024, the figure dropped by around 4.33 percentage points, though the decline followed an uneven course rather than a steady trajectory. The growth is forecast to decline by about 0.83 percentage points from 2024 to 2030, fluctuating as it trends downward.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

Total Quantity Indexes for Real GDP for Wichita Falls, TX (MSA) was 112.31400 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Wichita Falls, TX (MSA) reached a record high of 112.31400 in January of 2023 and a record low of 93.30100 in January of 2005. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Wichita Falls, TX (MSA) - last updated from the United States Federal Reserve on July of 2025.

In 2024, the growth of the real gross domestic product (GDP) in Antigua and Barbuda was estimated at approximately 4.31 percent. Between 1980 and 2024, the figure dropped by around 3.85 percentage points, though the decline followed an uneven course rather than a steady trajectory. The growth is forecast to decline by about 1.81 percentage points from 2024 to 2030, fluctuating as it trends downward.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

Canada CA: GDP: Real: per Capita data was reported at 56,866.021 CAD in 2023. This records a decrease from the previous number of 57,835.849 CAD for 2022. Canada CA: GDP: Real: per Capita data is updated yearly, averaging 40,698.712 CAD from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 57,835.849 CAD in 2022 and a record low of 19,734.832 CAD in 1960. Canada CA: GDP: Real: per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Gross Domestic Product: Real. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices 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. Data are in constant local currency.;World Bank national accounts data, and OECD National Accounts data files.;;

Real GDP (LCU) of Puerto Rico rose by 3.23% from 100,114,500,000 LCU in 2023 to 103,344,900,000 LCU in 2024. Since the 4.18% decline in 2020, real GDP (LCU) leapt by 7.22% in 2024. 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. Data are in constant local currency.

Total Quantity Indexes for Real GDP for Sioux Falls, SD (MSA) was 104.76400 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Sioux Falls, SD (MSA) reached a record high of 106.55700 in January of 2019 and a record low of 50.85600 in January of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Sioux Falls, SD (MSA) - last updated from the United States Federal Reserve on June of 2025.