Gross Domestic Product Trends and Issues

STATE OF GDP GROWTH & THE ECONOMY

 

Gross Domestic Product:

$22.769 trillion

  
 

GDP Growth:

  • QoQ annualized growth
  • ⇧ 1.6%.
  • YoY annualized growth
  • ⇧ 3.0%.
 
COVID Recovery:

  • Through Q1 2024 - recovered above pre-COVID Q4 2019 levels.

  • Shortfall of $(0.5) trillion to 2.5% GDP trendline.

  • Historic 128-month economic expansion ended in Q1 2020 (COVID pandemic).
 

SUMMARY GDP STATISTICS

SIZE AND SCOPE OF U.S. ECONOMY

 

Components of GDP

 

GDP CURRENT QUARTER

GDP Component Levels and QoQ Growth Rates

GDP Component Contribution to QoQ GDP Growth

During Q4 2023, GDP rose QoQ at 1.6%, compared to the 2.1% average growth in GDP since Q1 2010.

  • Services was the largest positive contributor at 1.8%, followed by Residential Fixed Investment at 0.5%.

GDP - ANNUAL TRENDS SINCE 2000

Annual GDP

% Annual Change in GDP

TRENDS IN GDP GROWTH AND DURATION OF ECONOMIC CYCLE

Quarterly Trends in GDP Growth Since 2010

Economic Expansions

GDP & COVID-19 IMPACT

GDP: COVID-19 IMPACT & RECOVERY

GDP: SHORTFALLS DUE TO COVID-19

GDP - KEY SEGMENTS: COVID-19 IMPACT & RECOVERY