Gross Domestic Product for United States
MKTGDPUSA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,184,890,000,000.00
Year-over-Year Change
79.56%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross Domestic Product (GDP) is the total monetary value of all final goods and services produced within a country's borders over a specific time period. It is a key indicator of economic health and performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP represents the size and strength of a national economy. It is used by policymakers, analysts, and businesses to assess economic growth, make decisions, and compare nations' economic performance.
Methodology
GDP data is collected through surveys of businesses, government agencies, and households, then aggregated and adjusted for inflation.
Historical Context
GDP is closely watched by the Federal Reserve, Congress, and investors to gauge the overall health of the U.S. economy.
Key Facts
- GDP represents the total value of all goods and services produced in the U.S.
- GDP is calculated on a quarterly basis by the Bureau of Economic Analysis.
- GDP growth is a key indicator used to evaluate the health of the U.S. economy.
FAQs
Q: What does this economic trend measure?
A: Gross Domestic Product (GDP) measures the total monetary value of all final goods and services produced within the United States over a specific time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a nation's economic performance and is closely watched by policymakers, businesses, and investors to gauge the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: GDP data is collected through surveys of businesses, government agencies, and households, then aggregated and adjusted for inflation by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: GDP growth is a key metric used by the Federal Reserve, Congress, and other policymakers to inform decisions on monetary and fiscal policies aimed at promoting economic stability and growth.
Q: Are there update delays or limitations?
A: GDP data is released on a quarterly basis, with an initial estimate followed by two revisions as more complete information becomes available.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for United States
USACPIALLAINMEI
Composite Leading Indicators: Reference Series (GDP) Trend for United States
USALORSGPTDSTSAM
Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for United States
CPGREN01USQ657N
Production: Manufacturing: Total Manufacturing for United States
USAPRMNTO01GPSAM
M2 for United States
MYAGM2USM052S
Consumer Price Index: All Items: Total for United States
CPALTT01USQ657N
Citation
U.S. Federal Reserve, Gross Domestic Product for United States (MKTGDPUSA646NWDB), retrieved from FRED.