Annual
This dataset tracks annual over time.
Latest Value
268411000000.00
Year-over-Year Change
42.66%
Date Range
1/1/1990 - 1/1/2022
Summary
The Annual Nominal GDP series measures the total value of all goods and services produced in the United States over a one-year period. It is a key indicator of the overall size and growth of the U.S. economy.
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
The Annual Nominal GDP series tracks the total dollar value of all final goods and services produced domestically during a given year. It is a broad measure of economic activity and a fundamental metric used by economists and policymakers to assess the health and trajectory of the U.S. economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on a variety of economic surveys and datasets.
Historical Context
Annual GDP figures are closely watched by the Federal Reserve, Congress, and private analysts to inform monetary and fiscal policy decisions.
Key Facts
- The U.S. GDP reached a record high of $23.9 trillion in 2021.
- GDP growth averaged 2.3% annually from 2010 to 2019.
- The COVID-19 pandemic caused GDP to contract by 3.4% in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual Nominal GDP series measures the total dollar value of all final goods and services produced in the United States over a one-year period.
Q: Why is this trend relevant for users or analysts?
A: Annual GDP is a fundamental indicator of the overall size and growth of the U.S. economy, making it crucial for economic analysis, policy decisions, and assessing the nation's economic health.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on a variety of economic surveys and datasets.
Q: How is this trend used in economic policy?
A: Annual GDP figures are closely watched by the Federal Reserve, Congress, and private analysts to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual Nominal GDP data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual Nominal GDP (FINGDPNADSMEI), retrieved from FRED.