As can be seen in the ranking of GDP of the 196 nations that we publish, the United States is the world’s top economy in terms of GDP. The United States’ GDP increased in absolute terms.
What was the 2012 GDP?
The US economy is growing at a rate of 2.3 percent. As can be seen in the ranking of GDP of the 196 nations that we publish, the United States is the world’s leading economy in terms of GDP, with a total of $16,254,000 million in 2012. GDP in the United States increased by $654,300 million in absolute terms from 2011.
What is the current Gross Domestic Product?
Retail and wholesale trade industries led the increase in private inventory investment. The largest contributor to retail was inventory investment by automobile dealers. Increases in both products and services contributed to the increase in exports. Consumer products, foods, feeds, and drinks, as well as industrial supplies and materials, were major contributors to the growth in goods exports. Travel was the driving force behind the increase in service exports. The increase in PCE was mostly due to an increase in services, with health care, financial services and insurance, and transportation accounting for the majority of the increase. The increase in nonresidential fixed investment was mostly due to a rise in intellectual property items, which was partially offset by a drop in structures.
The reduction in federal spending was mostly due to lower defense spending on intermediate goods and services. The drop in state and local government spending corresponded to a drop in gross investment (led by new educational structures). The rise in imports was mostly due to a rise in goods (led by non-food and non-automotive consumer goods, as well as capital goods).
After gaining 2.3 percent in the third quarter, real GDP increased 7.0 percent in the fourth quarter. The increase in real GDP was mostly due to increases in exports and residential investment, as well as increases in private inventory investment and consumer expenditure, which were somewhat offset by a decrease in state and local government spending. Imports have increased.
In the fourth quarter, current dollar GDP climbed by 14.6 percent on an annual basis, or $806.2 billion, to $24.01 trillion. GDP climbed by 8.4%, or $461.3 billion, in the third quarter (table 1 and table 3). The “Key Source Data and Assumptions” file contains more detail on the source data that underpins the estimations.
The price index for gross domestic purchases rose 7.0 percent in the fourth quarter, up 0.1 percentage point from the previous quarter (table 4). The PCE price index grew 6.3 percent, a 0.2 percentage point decrease from the previous estimate. The PCE price index grew 5.0 percent excluding food and energy prices, a 0.1 percentage point upward revision.
Updates to GDP
From the “advance” estimate, the rise in fourth-quarter real GDP was revised up 0.1 percentage point. Upward adjustments in nonresidential fixed investment, state and local government spending, and residential fixed investment were partially offset by downward revisions in consumer spending, exports, and federal government spending in the updated estimates. Imports have been reduced. Refer to the Technical Note for more information. Refer to the “Additional Details” section below for information on GDP updates.
What was the 2015 GDP?
As can be seen in the ranking of GDP of the 196 nations that we publish, the United States is the world’s leading economy in terms of GDP, with a total of $18,206,000 million in 2015. GDP in the United States increased by $655,300 million in absolute terms in 2015 compared to 2014.
What will the US GDP per capita be in 2021?
GDP rises by 5.7 percent in the United States. In comparison to 2020, the United States’ GDP increased by $2,102,400 million. The United States’ GDP per capita in 2021 was $69,738, up $6,380 from $63,358 in 2020.
When was the United States’ GDP the highest?
From 1960 to 2020, GDP in the United States averaged 7680.13 USD Billion, with a top of 21433.22 USD Billion in 2019 and a low of 543.30 USD Billion in 1960.
What was the Gross Domestic Product in 2014?
As can be seen in the ranking of GDP of the 196 nations that we publish, the United States is the world’s leading economy in terms of GDP, with a total of $17,550,700 million in 2014. GDP in the United States increased by $707,500 million in absolute terms in 2014 compared to 2013.
Since 2009, how much has the economy grown?
From mid-2009 to mid-2019, the economy grew at an annual rate of 2.3 percent. The quarterly growth pattern was irregular, with several quarters of growth well above 3.5 percent sandwiched between three quarters of negative growth.
In 2008, what was the GDP?
The US economy is improving. As can be seen in the ranking of GDP of the 196 nations that we publish, the United States is the world’s leading economy in terms of GDP, with a total of $14,769,900 million in 2008.
In 2010, what was the GDP?
As can be seen in the ranking of GDP of the 196 nations that we publish, the United States is the world’s leading economy in terms of GDP, with a total of $15,049,000 million in 2010. GDP in the United States increased by $570,900 million in absolute terms from 2009.