This graph shows a forecast of the gross domestic product of the United States of America for fiscal years 2024 to 2034. GDP refers to the market value of all final goods and services produced within a country in a given period. According to the CBO, the United States GDP will increase steadily over the next decade from 28.18 trillion U.S. dollars in 2023 to 41.65 trillion U.S. dollars in 2034. The annual GDP of the United States for recent years can be found here. Also, view the monthly inflation rate for the country.

The statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2019 to 2023, with projections up until 2029. 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 2023, the growth of the real gross domestic product in the United States was around 2.53 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.

The statistic shows the gross domestic product (GDP) of the United States from 1987 to 2023, with projections up until 2029. The gross domestic product of the United States in 2023 amounted to around 27.72 trillion U.S. dollars. The United States and the economy The United States’ economy is by far the largest in the world; a status which can be determined by several key factors, one being gross domestic product: A look at the GDP of the main industrialized and emerging countries shows a significant difference between US GDP and the GDP of China, the runner-up in the ranking, as well as the followers Japan, Germany and France. Interestingly, it is assumed that China will have surpassed the States in terms of GDP by 2030, but for now, the United States is among the leading countries in almost all other relevant rankings and statistics, trade and employment for example. See the U.S. GDP growth rate here. Just like in other countries, the American economy suffered a severe setback when the economic crisis occurred in 2008. The American economy entered a recession caused by the collapsing real estate market and increasing unemployment. Despite this, the standard of living is considered quite high; life expectancy in the United States has been continually increasing slightly over the past decade, the unemployment rate in the United States has been steadily recovering and decreasing since the crisis, and the Big Mac Index, which represents the global prices for a Big Mac, a popular indicator for the purchasing power of an economy, shows that the United States’ purchasing power in particular is only slightly lower than that of the euro area.

Graph and download economic data for Longer Run FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, High (GDPC1CTHLR) from 2009-02-18 to 2025-03-19 about projection, real, GDP, rate, and USA.

The gross domestic product (GDP) growth rate of all major economies included except China was negative in 2020 following the COVID-19 pandemic. Growth rates were positive again in 2021, but stagnated in some countries in 2023 amid high inflation rates. What does GDP measure? GDP is the sum of all consumption, investment, government spending, and net exports in an economy. As such, different things drive the growth of each of these countries. Germany benefits from a high value of net exports, also known as its trade balance. Drawbacks of GDP growth as a metric GDP measures growth, but it does not capture welfare gains correctly in many cases. For example, carbon dioxide emissions often go hand in hand with a growing GDP. These emissions are from industry, such as coal power plants, or consumption, such as driving cars, but GDP does not measure the damage from these activities. Also, national debt is not incorporated into GDP.

Forecast: Contribution to GDP of Construction in the US 2024 - 2028 Discover more data with ReportLinker!

Explore the impact of the U.S. trade deficit reaching new heights alongside declining GDP forecasts, and what it means for the economy and various industries.

United States US: GDP: Growth: Final Consumption Expenditure: Household data was reported at 2.733 % in 2016. This records a decrease from the previous number of 3.642 % for 2015. United States US: GDP: Growth: Final Consumption Expenditure: Household data is updated yearly, averaging 3.254 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 6.133 % in 1972 and a record low of -1.601 % in 2009. United States US: GDP: Growth: Final Consumption Expenditure: Household data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth of household final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The Gross Domestic Product (GDP) in Chile was worth 335.53 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Chile represents 0.32 percent of the world economy. This dataset provides - Chile GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Forecast: GDP Energy Intensity in the US 2024 - 2028 Discover more data with ReportLinker!

Forecast: Total Tourism GDP in the US 2024 - 2028 Discover more data with ReportLinker!

In 2023, the GDP of the United States increased by about 2.5 percent compared to the previous year. This comes amid high nflation rates globally, and countries such as Argentina and Germany even experiencing economic decline. 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 to measure the economic strength of a country.

United States US: GDP: % of GDP: Gross Value Added: Agriculture data was reported at 1.014 % in 2016. This records a decrease from the previous number of 1.070 % for 2015. United States US: GDP: % of GDP: Gross Value Added: Agriculture data is updated yearly, averaging 1.139 % from Dec 1997 (Median) to 2016, with 20 observations. The data reached an all-time high of 1.380 % in 2013 and a record low of 0.969 % in 2002. United States US: GDP: % of GDP: Gross Value Added: Agriculture data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Share of GDP. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Graph and download economic data for FOMC Summary of Economic Projections for the Civilian Unemployment Rate, Central Tendency, Low (UNRATECTL) from 2025 to 2027 about projection, civilian, unemployment, rate, and USA.

The Gross Domestic Product (GDP) in Russia was worth 2021.42 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Russia represents 1.92 percent of the world economy. This dataset provides the latest reported value for - Russia GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Forecast: Wholesale, Retail Trade, Restaurants and Hotels Contribution to GDP in the US 2024 - 2028 Discover more data with ReportLinker!

United States US: GDP: Real: Final Consumption Expenditure: Household data was reported at 11,763.375 USD bn in 2016. This records an increase from the previous number of 11,450.431 USD bn for 2015. United States US: GDP: Real: Final Consumption Expenditure: Household data is updated yearly, averaging 6,202.208 USD bn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 11,763.375 USD bn in 2016 and a record low of 2,951.010 USD bn in 1970. United States US: GDP: Real: Final Consumption Expenditure: Household data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Real. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Forecast: Contribution to GDP of Agriculture, Hunting, Forestry, Fishing in the US 2024 - 2028 Discover more data with ReportLinker!

United States GDP: Deflator: Gross Capital Formation data was reported at 1.285 Index, 2017 in Dec 2026. This records an increase from the previous number of 1.278 Index, 2017 for Sep 2026. United States GDP: Deflator: Gross Capital Formation data is updated quarterly, averaging 0.764 Index, 2017 from Mar 1960 (Median) to Dec 2026, with 268 observations. The data reached an all-time high of 1.285 Index, 2017 in Dec 2026 and a record low of 0.208 Index, 2017 in Mar 1966. United States GDP: Deflator: Gross Capital Formation data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s United States – Table US.OECD.EO: GDP: Deflator: Forecast: OECD Member: Quarterly. PITISK - Gross capital formation, deflatorIndex, national reference year