Gross Domestic Product US

Gross Domestic product (GDP) is the total value of all the finished goods and services produced by a country during a specific period of time, usually one year. The value of the goods and services produced in the United States is the GDP. The percentage that GDP grew (or shrank) from one period to another is an important way for Americans to gauge how their economy is doing. The United States’ GDP is also watched around the world as an economic barometer. GDP is the signature piece of BEA’s National Income and Product Accounts, which measure the value and makeup of the nation’s output, the types of income generated, and how that income is used. BEA also estimates GDP for states, metropolitan areas, and most U.S. territories.

Gross Domestic Product of United States

Q1 2020: 21,561.139
Q2 2020: 19,520.114
Q3 2020: 21,170.252
Q4 2020: 21,494.731

Q1 2021: 22,048.894

Bureau of Economic Analysis defines GDP as

“Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States”

US GDP $21.43 Trillion Year 2019

Mudassir

I love writing.

Leave a Reply

Your email address will not be published. Required fields are marked *