This statistic shows the revenue of the industry “direct insurance (except life, health, and medical) carriers“ in the U.S. from 2012 to 2017, with a forecast to 2024. It is projected that the revenue of direct insurance (except life, health, and medical) carriers in the U.S. will amount to approximately 666,4 billion U.S. Dollars by 2024.

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.

U.S. GDP for 2023 was 27.721 trillion US dollars, a 6.59% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.S. GDP for 2022 was <strong>26.007 trillion US dollars</strong>, a <strong>9.82% increase</strong> from 2021.</li>
<li>U.S. GDP for 2021 was <strong>23.681 trillion US dollars</strong>, a <strong>10.9% increase</strong> from 2020.</li>
<li>U.S. GDP for 2020 was <strong>21.354 trillion US dollars</strong>, a <strong>0.86% decline</strong> from 2019.</li>
</ul>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 current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In 2024, the U.S. GDP increased from the previous year to about 29.18 trillion U.S. dollars. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2024, the United States has the largest economy in the world. What is GDP? Gross domestic product is one of the most important indicators used to analyze the health of an economy. GDP is defined by the BEA as the market value of goods and services produced by labor and property in the United States, regardless of nationality. It is the primary measure of U.S. production. The OECD defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). GDP and national debt Although the United States had the highest Gross Domestic Product (GDP) in the world in 2022, this does not tell us much about the quality of life in any given country. GDP per capita at purchasing power parity (PPP) is an economic measurement that is thought to be a better method for comparing living standards across countries because it accounts for domestic inflation and variations in the cost of living. While the United States might have the largest economy, the country that ranked highest in terms of GDP at PPP was Luxembourg, amounting to around 141,333 international dollars per capita. Singapore, Ireland, and Qatar also ranked highly on the GDP PPP list, and the United States ranked 9th in 2022.

U.S. gdp growth rate for 2023 was 2.89%, a 0.38% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.S. gdp growth rate for 2022 was <strong>2.51%</strong>, a <strong>3.54% decline</strong> from 2021.</li>
<li>U.S. gdp growth rate for 2021 was <strong>6.06%</strong>, a <strong>8.22% increase</strong> from 2020.</li>
<li>U.S. gdp growth rate for 2020 was <strong>-2.16%</strong>, a <strong>4.75% decline</strong> from 2019.</li>
</ul>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.

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 statistic shows the average annual change in real GDP per capita in the United States from President Hoover to Obama, as of 2011. The biggest economic growth happened during Franklin D. Roosevelt's presidency. The Real Gross Domestic Product per capita increased by 5.25 percent each year.

Additional information on President Barack Obama’s first term economic policy performance

“It’s the economy, stupid” as the now famous saying by former President Bill Clinton goes is often used to demonstrate the importance continuants place on the economy’s performance. Appointed to President of the United States in 2008, President Obama entered the job in the early stages of a global economic crisis. The unemployment rate in the United States since 1990 demonstrates that Obama oversaw a reduction in unemployment rate since an initially sharp increase to over 9 percent in 2009 and 2010. Prior to the reduction, public approval of President Obama and the Republicans in congress in handling the economy shows that the public’s trust in Obama waned from 61 percent in February 2009 to 42 percent in November 2011. The fluctuation of America’s economy meant that Obama’s first term saw him reach an average of 76 thousand private sector jobs created per month as of June 2012, leaving him sixth in private sector job creation on the list of post-war presidents.

As leader of the most economically influential country on the planet, praise and criticism of Obama’s economic performance is also a global issue. In 2012, opinion on Obama’s management of global economic issues by country demonstrates the variety in opinion held in and across countries. While countries such as Britain and Germany whose economies appeared to be recovering held Obama’s economic policy in a positive light, opinion was more negative in Egypt and Greece were the economic situation was less optimistic.

This statistic shows the revenue of the industry “engineering activities and related technical consultancy“ in Croatia from 2012 to 2018, with a forecast to 2025. It is projected that the revenue of engineering activities and related technical consultancy in Croatia will amount to approximately 966.28 million U.S. Dollars by 2025.

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.

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.

• 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.

For information on economic census geographies, including changes for 2012, see the economic census Help Center...Table Name. All sectors: Geographic Area Series: Economy-Wide Key Statistics: 2012. . .Release Schedule. The data in this file are scheduled for release starting in March 2014 and ending in June 2016.. . .Key Table Information. The data in this file come from separate 2012 Economic Census of the U.S., Economic Census of Island Areas, and Nonemployer Statistics data files released on a flow basis from March 2014 through June 2016. As such, these data are subject to change and will be replaced when updated data are added from more recent data files. Users should be aware that during the release of this consolidated file, data at more detailed NAICS and geographic levels may not add to higher-level totals. However, at the completion of the economic census (once all the component files have been released), the detailed data in this file will add to these totals.. . .Universe. The universe of this file is all operating establishments with one or more paid employees (employers) as well as all operating establishments with no paid employees (nonemployers). This universe includes all establishments classified in the North American Industry Classification System (NAICS) Codes 21 through 813990.. . .Geographic Coverage. The data are shown for employer establishments at the US, State, Combined Statistical Area, Metropolitan and Micropolitan Statistical Area, Metropolitan Division, Consolidated City, County (and equivalent), and Economic Place (and equivalent; incorporated and unincorporated) levels for the U.S. and the Island Areas. Data for nonemployer establishments are shown for the U.S. for all levels except Economic Places and only for Puerto Rico for the Island Areas.. . .Industry Coverage. The data are shown at the 2- through 6-digit NAICS code levels for all economic census sectors and at the 7- and 8-digit NAICS code levels for selected economic census sectors.. . .Data Items and Other Identifying Records. This file contains data on:.. Number of employer establishments. Sales, receipts, revenue, shipments, or value of business done for employer establishments. Annual payroll of employer establishments. Total employment of employer establishments. Number of nonemployer establishments. Receipts for nonemployer establishments. Relative standard errors for the first 4 employer data items (Construction industries only).. .Data are also published by Type of Operation or Tax Status for selected sectors. For Wholesale Trade, data are published for Total Wholesale Trade and for Merchant Wholesalers. For the Services sectors, data are published for All Establishments, as well as Taxable and Tax Exempt Establishments...For additional statistics not shown in this file, see the individual data files from the Economic Census of the U.S. Industry, Geographic Area, Subjects, and Summary Series and the Economic Census of Island Areas Geographic Area Series.. . .Sort Order. Data are presented in ascending geography (GEO_ID) by NAICS code (NAICS2012) by Type of Operation or Tax Status (OPTAX) sequence.. . .FTP Download.Download the entire table athttps://www2.census.gov/econ2012/EC/sector00/EC1200A1.zip. . .Contact Information.U.S. Census Bureau, Economic Management Division.Dissemination Branch.Tel: (301)763-9560.econ.dissemination@census.gov. . .The data in this file come from separate 2012 Economic Census of the U.S., Economic Census of Island Areas, and Nonemployer Statistics data files released on a flow basis from March 2014 through June 2016. As such, these data are subject to change and will be replaced when updated data are added from more recent data files. See the Table Notes for more information on this and for related additivity and comparability issues. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Methodology..Symbols:D - Withheld to avoid disclosing data for individual companies; data are included in higher level totalsN - Not available or not comparableFor a complete list of all economic programs symbols, see the Symbols Glossary.Source: U.S. Census Bureau, 2012 Economic Census, 2012 Economic Census of Island Areas, and 2012 Nonemployer Statistics..Note: The data in this file are based on the 2012 Economic Census, and the related programs listed above. To maintain confidentiality, the Census Bureau suppresses data to protect the identity of any business or individual. The census results in this file contain sampling and nonsampling error. Data users who create their own estimates using data from this file should cite the Census Bureau as the source of the original data only. For the full technical documentation, see Methodology link in headnote above.

The Economic Census is the U.S. Government's official five-year measure of American business and the economy. It is conducted by the U.S. Census Bureau, and response is required by law. In October through December 2012, forms were sent out to nearly 4 million businesses, including large, medium and small companies representing all U.S. locations and industries. Respondents were asked to provide a range of operational and performance data for their companies.

United States TMOS: Future Unfilled Orders: Increase data was reported at 9.200 % in Apr 2020. This records a decrease from the previous number of 11.700 % for Mar 2020. United States TMOS: Future Unfilled Orders: Increase data is updated monthly, averaging 15.100 % from Jun 2004 (Median) to Apr 2020, with 191 observations. The data reached an all-time high of 28.700 % in Feb 2018 and a record low of 5.700 % in Aug 2012. United States TMOS: Future Unfilled Orders: Increase data remains active status in CEIC and is reported by Federal Reserve Bank of Dallas. The data is categorized under Global Database’s United States – Table US.S016: Texas Manufacturing Outlook Survey.

FRBOP Forecast: IPI: Median: sa: Plus 3 Qtrs data was reported at 109.662 2012=100 in Jun 2018. This records a decrease from the previous number of 110.017 2012=100 for Mar 2018. FRBOP Forecast: IPI: Median: sa: Plus 3 Qtrs data is updated quarterly, averaging 125.950 2012=100 from Dec 1968 (Median) to Jun 2018, with 199 observations. The data reached an all-time high of 181.000 2012=100 in Sep 1971 and a record low of 96.078 2012=100 in Sep 2011. FRBOP Forecast: IPI: Median: sa: Plus 3 Qtrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.B003: Industrial Production Index: By NAIC System: 2012=100: Seasonally Adjusted: Forecast: Federal Reserve Bank of Philadelphia.

United States Holding Gains/Losses: Rest of the World data was reported at 39.378 USD bn in Mar 2018. This records an increase from the previous number of -92.871 USD bn for Dec 2017. United States Holding Gains/Losses: Rest of the World data is updated quarterly, averaging -0.302 USD bn from Dec 1951 (Median) to Mar 2018, with 266 observations. The data reached an all-time high of 699.377 USD bn in Sep 2008 and a record low of -458.762 USD bn in Dec 2012. United States Holding Gains/Losses: Rest of the World data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.AB074: Integrated Macroeconomic Accounts: Total Economy and Sectors: Selected Aggregates.

This statistic shows the revenue of the industry “manufacture of electric motors, generators, transformers and electricity distribution and control apparatus“ in Croatia by segment from 2012 to 2018, with a forecast to 2025. It is projected that the revenue of manufacture of electric motors, generators, transformers and electricity distribution and control apparatus in Croatia will amount to approximately 399.58 million U.S. Dollars by 2025.

GDP: 2012p: Exports: Services data was reported at 753.382 USD bn in 2017. This records an increase from the previous number of 735.256 USD bn for 2016. GDP: 2012p: Exports: Services data is updated yearly, averaging 591.952 USD bn from Dec 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 753.382 USD bn in 2017 and a record low of 376.489 USD bn in 2002. GDP: 2012p: Exports: Services data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A007: NIPA 2018: GDP by Expenditure: Annual Average: 2012 Price: Chain Linked.

Key information about US GDP Deflator Growth

• United States GDP deflator (implicit price deflator) increased 5.4 % in Mar 2023, compared with an increase of 6.4 % in the previous quarter.
• US GDP Deflator Growth data is updated quarterly, available from Mar 1948 to Mar 2023, with an average rate of 2.4 %.
• The data reached an all-time high of 10.9 % in Mar 1975 and a record low of -2.0 % in Dec 1949.

• In the latest reports, United States GDP expanded 1.6 % YoY in Mar 2023.
• Its Nominal GDP reached 6,621.6 USD bn in Mar 2023.
• US GDP Per Capita reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 15.9 % in Mar 2023.

FRBOP Forecast: IPI: Mean: sa: Plus 1 Qtr data was reported at 110.580 2012=100 in Mar 2019. This records an increase from the previous number of 109.543 2012=100 for Dec 2018. FRBOP Forecast: IPI: Mean: sa: Plus 1 Qtr data is updated quarterly, averaging 123.026 2012=100 from Dec 1968 (Median) to Mar 2019, with 202 observations. The data reached an all-time high of 174.014 2012=100 in Sep 1971 and a record low of 94.186 2012=100 in Sep 2010. FRBOP Forecast: IPI: Mean: sa: Plus 1 Qtr data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s United States – Table US.B003: Industrial Production Index: By NAIC System: 2012=100: Seasonally Adjusted: Forecast: Federal Reserve Bank of Philadelphia.

United States TMOS: Future Number of Employees: Number Change data was reported at 51.900 % in Apr 2020. This records an increase from the previous number of 49.000 % for Mar 2020. United States TMOS: Future Number of Employees: Number Change data is updated monthly, averaging 55.900 % from Jun 2004 (Median) to Apr 2020, with 191 observations. The data reached an all-time high of 72.600 % in May 2012 and a record low of 29.900 % in Dec 2004. United States TMOS: Future Number of Employees: Number Change data remains active status in CEIC and is reported by Federal Reserve Bank of Dallas. The data is categorized under Global Database’s United States – Table US.S016: Texas Manufacturing Outlook Survey.