Nominal Gross Domestic Product for United States
NGDPSAXDCUSQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,490,511.80
Year-over-Year Change
18.82%
Date Range
1/1/1950 - 1/1/2025
Summary
Nominal Gross Domestic Product (GDP) measures the total value of all goods and services produced in the United States. It is a key indicator of economic growth and helps policymakers assess the overall health 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
Nominal GDP represents the market value of all final goods and services produced within a country's borders in a given period, without adjusting for inflation. It is widely used by economists, policymakers, and analysts to evaluate the size and performance of the U.S. economy.
Methodology
The U.S. Bureau of Economic Analysis (BEA) calculates Nominal GDP by summing consumer spending, business investment, government spending, and net exports.
Historical Context
Nominal GDP data is essential for monitoring economic trends, forecasting growth, and informing policy decisions.
Key Facts
- Nominal GDP reached $23.9 trillion in Q4 2022.
- GDP growth slowed to 2.9% in Q4 2022 from 3.2% in Q3 2022.
- The U.S. economy grew 2.1% in 2022 overall.
FAQs
Q: What does this economic trend measure?
A: Nominal Gross Domestic Product (GDP) measures the total value of all goods and services produced in the United States, without adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: Nominal GDP is a crucial indicator of economic growth and performance, providing essential information for policymakers, economists, and market analysts to assess the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) calculates Nominal GDP by summing consumer spending, business investment, government spending, and net exports.
Q: How is this trend used in economic policy?
A: Nominal GDP data is essential for monitoring economic trends, forecasting growth, and informing policy decisions by the Federal Reserve, Congress, and other government institutions.
Q: Are there update delays or limitations?
A: Nominal GDP data is released quarterly by the BEA, with a delay of approximately one month after the end of each quarter.
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Citation
U.S. Federal Reserve, Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ), retrieved from FRED.