Economy Understand the financial forces that affect daily American life. Discover how exports and imports impact US taxes and debt, plus learn about inflation and other economic indicators.

Learn the facts about the US economy: both national measures like GDP and inflation and data with personal impact, like wages and housing prices.

Feb 6, 2025 · A Sankey chart illustrates a flow of data from one condition to another, making it a useful way to visualize how revenues flow in and expenses flow out of the nation’s budget.

Jan 13, 2022 · As 2021 ends, the US economy is still feeling the effects of the COVID-19 pandemic. In some ways, the economy looks closer to 2019. The unemployment rate continued to drop. Fewer people reported not having enough food to eat. But people also quit their jobs at historically high rates.

Jun 5, 2024 · Economy Inflation: The Consumer Price Index peaked at a 9.0% inflation rate in June 2022, then dropped below 4% from July to December 2023. Economic growth: GDP adjusted for inflation grew by 2.5% in 2023, surpassing the average growth rate since 2000.

About $195.4 billion in 2023. Gross domestic product (GDP) measures the value of goods and services a country or state produces — it’s the sum of consumer spending, business investment, government spending, and net exports. It is often used to quantify the size of its economy. The $195.4 billion is the “real GDP,” which is adjusted to account for inflation to make it easier to …

Feb 4, 2025 · In a supply-and-demand economy, when supply of a certain commodity goes down, prices tend to go up, because there is less of the commodity available to meet the demand. Tariffs, like all taxes, drive an economic “wedge” between what an importer pays and what an exporter receives as payment.

Aug 28, 2024 · How have Americans’ feelings about the economy changed? In 2019, 50% of adults felt that the national economy was in either good or excellent shape, while 63% thought the same of their local economy. In 2020, those sentiments dropped to 26% on the national level and 43% locally. Both figures hit low points in 2022 before ticking up in 2023.

Feb 19, 2025 · About $677.2 billion in 2023. Gross domestic product (GDP) measures the value of goods and services a country or state produces — it’s the sum of consumer spending, business investment, government spending, and net exports. It is often used to quantify the size of its economy. The $677.2 billion is the “real GDP,” which is adjusted to account for inflation to …

Feb 19, 2025 · About $1.3 trillion in 2023. Gross domestic product (GDP) measures the value of goods and services a country or state produces — it’s the sum of consumer spending, business investment, government spending, and net exports. It is often used to quantify the size of its economy. The $1.3 trillion is the “real GDP,” which is adjusted to account for inflation to make …