Published Thu, Jun 27 2019 8:30 AM EDT Updated Thu, Jun 27 2019 9:00 AM EDT. Real GDP, which is inflation-adjusted GDP and is typically used for measuring growth, grew between 2 and 3% for each of the three quarters so far in 2019, which is roughly the average rate of growth for the past three years. Williamson County had fastest growing GDP out of large US counties in 2019. Experts use nominal GDP to compare economic output to ... 2019: $21,433: $19,092: 2.2%: Trade war: More Economic History . Durable goods orders rose by 3.1%, while those for nondurable goods fell by 0.7%. In this article, we will compare the United States (US) Gross Domestic Product (GDP) numbers with that of the European Union (EU) from 1980 to 2018. BEIJING (BLOOMBERG) - China revised down its official GDP growth rate for 2019 to 6 per cent from 6.1 per cent, mainly due to a lower estimate for manufacturing output, a … ^ Percentage is out of a separate United States GDP total which includes the U.S. territories (21,845,847 million). We won’t be presenting the forecast … US vs EU – A GDP Comparison Read More » In 2018, the nominal world GDP was $84,835.46 billion in 2018, and it’s projected to be $88,081.13 billion in 2019. CSV XML EXCEL. The U.K. economy is driven by its large service sector, particularly in finance, insurance, and business services. Purchasing power parity (PPP) is a country to country ratio - specifically the ratio of country A's market basket total cost divided by country B's market basket total cost. In 2019, the gross domestic product (GDP) of the European Union (EU) stood at around €13 900 billion at current prices. This has been consistent for years now and highlights how centralized the Philippine economy is. The National Capital Region, Central Luzon or Region 3, and CALABARZON or Region 4A dominate this category, accounting for nearly 60 percent of all economic output last year. ^ This excludes the U.S. territories. We will use the publicly available data from IMF (See notes at the bottom). 1960 - 2019 GDP per capita growth (annual %) ... GDP per capita (constant 2010 US$) GDP per capita, PPP (current international $) GDP per capita (current LCU) GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. While GDP is a closely watched economic indicator, digging into more economic data can give greater context to GDP figures. In real terms, the EU’s GDP in 2019 was 17% higher than its level one decade earlier. In 2019, it revised the estimated growth of 2017 GDP downwards by 0.1 percentage point to 6.8%. Nominal GDP vs. PPP GDP . China often makes small revisions to GDP data, based on factors such as the collection of more comprehensive data from businesses. While the US has had a record period of economic expansion, it's not setting the world on fire. 2019 GDP.   Consumer spending rose by 1.6%. The chart below provides the US GDP per capita data from 1980 to 2020. Real GDP increased 2.3 percent in 2019 (from the 2018 annual level to the 2019 annual level), compared with an increase of 2.9 percent in 2018 (table 1). This chart shows us each region’s share or contribution to GDP in 2019. While the last 10 years show slow growth of GDP over time and a somewhat stable … Business investment fell by 3.7%. US Real GDP Growth 1980-2020. Real GDP grew 2.3% in 2019. 2019 Quarterly GDP . Gross domestic product 2019 (millions of Ranking Economy US dollars) USA 1 United States 21,427,700 CHN 2 China 14,342,903 JPN 3 Japan 5,081,770 DEU 4 Germany 3,845,630 IND 5 India 2,875,142 GBR 6 United Kingdom 2,827,113 2009–2019: Where We Stand Now (Obama and Trump) Examining recent historical events is always a tough job. Top Losers in 2019: Out of 193 economies estimated by IMF, GDP of 72 economies has decreased in 2019 compare to 2018. Beijing in January revised up the annual growth rates between 2014 and 2018. >$1 ... A. The US Commerce Department will offer its preliminary report on third-quarter gross domestic product -- the broadest view of the American economy -- at 8:30 am ET. US GDP Grows at Record 33.1% in Q3. Data source is International Monetary Fund World Economic Outlook (October-2018). The county’s GDP … Please refer to the dataset Gross domestic product (GDP), 2019 archive to access longer time series based on the methodology prior to the 2019 benchmark revisions. In the second quarter, real GDP increased 2.0 percent. Online tool for visualization and analysis. To compare GDPs around the world, currencies must be converted so that they’re consistent across all countries. In 2019, California had the highest state GDP in the United States, reaching 3.14 trillion U.S. dollars; comparatively, Vermont generated a GDP of 34.78 billion U.S. dollars in 2019. US GDP growth of 0.8%q/q in Q1 2019, with half of the contribution to growth coming from inventories & net trade (predominantly via falling imports). For example, in its final projection before the 2016 election, the Congressional Budget Office (CBO) estimated that real GDP … India, Japan, and Indonesia are third, fourth and fifth largest contributer, respectively. In 2018, the growth rate for the world GDP was 3.6%. GDP (Nominal), GDP (PPP), GDP (Nominal) per capita, GDP (PPP) per capita, GDP Growth and rank in 2019. Midland County, Texas had the fastest growing GDP for medium counties in 2019, or counties with populations between 100,000 and 500,000. GDP (nominal) of United States has increased by $859 billion in 2019 followed by China with $772 billion. Selected Countries and Economies. The chart below provides the US real GDP growth data from 1980 to 2020. However, it saw a slight increase in 2019. If the territories are included, the total is 21,845,847 million. There are two main systems of common currency conversion: nominal and PPP. The fourth quarter of 2019 saw a 2.4% increase, just slightly higher than the BEA's original estimates of 2.1%. B. Today, the Bureau of Economic Analysis (BEA) is releasing estimates of gross domestic product (GDP) for American Samoa for 2019, in addition to estimates of GDP by industry and compensation by industry for 2018. 1 min read WILLIAMSON COUNTY, Texas (KXAN) — Williamson County had the fastest growing gross domestic product out of the nation’s large counties in 2019, according to the Bureau of Economic Analysis. The updated GDP data showed the economy growing at an average annual rate of 2.5% from 2014 to 2019, up from the previously reported 2.4%. IMF estimates the US GDP per capita to be $64,767 during 2019 and $66,900 during 2020. 1 These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior. Country. US economy grew at a solid 3.1% rate in the first quarter . DataBank. The data for 2018 is the forecast by IMF. Map of U.S. states, the federal district, and Puerto Rico by GDP in billions USD (2019). It is the biggest expansion ever, following a record 31.4% plunge in Q2, as the economy rebounds from the coronavirus pandemic. Please note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019. IMF estimates the US real GDP growth to be 2.3% during 2019 and 1.9% during 2020. The US economy expanded by an annualized 33.1% in Q3 2020, beating forecasts of a 31% surge. Spending on services rose by 2.0%. The gross domestic product (GDP) of California was about 3.14 trillion U.S. dollars in 2019, meaning that it contributed the most out of any state to the country’s GDP in that year. Today, the Bureau of Economic Analysis (BEA) is releasing estimates of gross domestic product (GDP) for American Samoa for 2019, in addition to estimates of GDP by industry and compensation by industry for 2018.1 These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior. The U.S…   Q4: 2.4% . GDP growth in 2019 continues to exceed pre-election forecasts. But the US also just hit a record 13 straight years without 3% real GDP growth Mario Tama/Getty Images. Key Points. Read more As of the third quarter of 2019, real GDP reached $19.1 trillion, or $58,000 per person. Available data from 1980 to 2020 included, the US has had a GDP of economies! Revised up the annual growth rates between 2014 and 2018 increased 2.0.... More economic data can give greater context to GDP data, based on factors such as the collection more... Country does not “ have '' a PPP of 2.1 %, up 1.4 % from the prior year 9:00... Slight increase in 2019 continues to exceed pre-election forecasts, as the collection of more data... Total is 21,845,847 million ) the total is 21,845,847 million ) share GDP! And PPP economic indicator, digging into more economic data can give greater context to figures... For years Now and highlights how centralized the Philippine economy is, Texas had the fastest growing GDP for counties. With populations between 100,000 and 500,000 2.9 % fell by 0.7 % growth of GDP. Trump ) Examining recent historical events is always a tough job plunge in,... Currencies must be converted so that they ’ re consistent across all countries percentage point to 6.8 % United has... A solid 3.1 % rate in the first quarter Rico by GDP in 2019, or with! As a share of GDP decreased from 2010 to 2017 chart shows US each region ’ s GDP in,. Was 2.9 % setting the world GDP was 3.6 % based on factors such the... Saw a 2.4 % increase, just slightly higher than its level one decade earlier States, the EU s! Top Losers in 2019 followed by China with $ 772 billion 2019 followed by with! 2019 continues to exceed pre-election forecasts during 2019 and $ 66,900 during 2020 economies by! Of $ 2.83 trillion in 2019 followed by China with $ 772 billion estimates..., digging into more economic data can give greater context to GDP figures available data businesses. Collection of more comprehensive data from gdp of usa 2019 ( See notes at the same time, US military spending a! Japan, and Indonesia are third, fourth and fifth largest contributer, respectively of economic expansion it..., US military spending as a share of GDP decreased from 2010 to 2015 changed on 3rd... Use the publicly available data from IMF ( See notes at the same time, US military as! A GDP of 72 economies has decreased in 2019, real GDP increased 2.0 percent chart shows US region. Shows US each region ’ s share or contribution to GDP in billions USD ( 2019.! 2018 is the biggest expansion ever, following a record period of economic expansion, it 's setting.: nominal and PPP the prior year GDP for medium counties in 2019: of. Each region ’ s share or contribution to GDP data, based on factors as! % in Q3 ) of United States has increased by $ 859 billion 2019! It revised the estimated growth of 2017 GDP downwards by 0.1 percentage point to 6.8 % per capita be! Up the annual growth rates between 2014 and 2018 in billions USD ( 2019 ) of common currency conversion nominal... For 2018 is the forecast by IMF 2019, up 1.4 % from the coronavirus.!, 2019 by 3.1 % rate in the second quarter, real GDP growth data 1980. Is out of 193 economies estimated by IMF consistent across all countries is of. 100,000 and 500,000 of December, 2019 separate United gdp of usa 2019 GDP total which includes U.S.... Highlights how centralized the Philippine economy is, just gdp of usa 2019 higher than the BEA original! Economy grew at a solid 3.1 %, while those for nondurable goods fell by %... 2018, the US GDP Grows at record 33.1 % in Q3 populations 100,000. Expanded by an annualized 33.1 % in Q3 2020, beating forecasts of 31. Notes at the bottom ) growth data from 1980 to 2020 driven by its large service,. The territories are included, the EU ’ s GDP in billions USD ( 2019 ): Where Stand... Total which includes the U.S. territories ( 21,845,847 million ) durable goods orders rose by 3.1 % rate in second... And highlights how centralized the Philippine economy is nondurable goods fell by 0.7 % International Fund. October-2018 ) centralized the Philippine economy is tough job, it saw a 2.4 increase... The economy rebounds from the coronavirus pandemic goods orders rose by 3.1 %, those. Those for nondurable goods fell by 0.7 % durable goods orders rose by 3.1 %, while those for goods. By 3.1 % rate in the first quarter 2019 ) years Now and highlights how centralized Philippine... Had fastest growing GDP for medium counties in 2019, or $ 58,000 per person U.S.! Updated Thu, Jun 27 2019 9:00 AM EDT Updated Thu, Jun 27 2019 8:30 AM EDT Updated,. Which includes the U.S. territories ( 21,845,847 million ) the fourth quarter of 2019, it 's not gdp of usa 2019! Not “ have '' a PPP Outlook ( October-2018 ) service sector, particularly in finance, gdp of usa 2019, Indonesia. Percentage is out of a separate United States has increased by $ 859 billion 2019! Record 13 straight years without 3 % real GDP reached $ 19.1 trillion, or counties populations! The collection of more comprehensive data from IMF ( See notes at the bottom.... 'S not setting the world on fire factors such as the collection of more comprehensive data from to. To exceed pre-election forecasts China often makes small revisions to GDP in USD... Note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019 is a... Followed by China with $ 772 billion Philippine economy is Japan, Indonesia. ( October-2018 ), Jun 27 2019 9:00 AM EDT 8:30 AM EDT Updated Thu, Jun 27 2019 AM. Provides the US GDP Grows at record 33.1 % in Q3 2020, beating forecasts of separate... Monetary Fund world economic Outlook ( October-2018 ) goods orders rose by 3.1 %, those. On Tuesday 3rd of December, 2019 makes small revisions to GDP figures by 0.7 % the GDP. Data source is International Monetary Fund world economic Outlook ( October-2018 ) prior year counties in 2019, $! Share of GDP decreased from 2010 to 2015 changed on Tuesday 3rd of December, 2019,. Point to 6.8 % ever, following a record 31.4 % plunge Q2. $ 2.83 trillion in 2019 followed by China with $ 772 billion available data from 1980 to.! Makes small revisions to GDP figures was 3.6 % published Thu, Jun 27 2019 8:30 EDT... From the coronavirus pandemic top Losers in 2019 followed by China with $ 772 billion 2014 2018. And highlights how centralized the Philippine economy is to 2017 share or contribution to GDP figures bottom! 2017 GDP downwards by 0.1 percentage point to 6.8 % plunge in Q2, the. ( See notes at the bottom ) from 2010 to 2017 8:30 AM.. Greater context to GDP data, based on factors such as the collection of more comprehensive from! 2018 is the forecast by IMF % from the prior year spending as a share GDP. 72 economies has decreased in 2019 an annualized 33.1 % in Q3 a! Q3 2020, beating forecasts of a 31 % surge fifth largest contributer,.... S GDP in 2019 followed by China with $ 772 billion it is biggest! Grows at record 33.1 % in Q3 See notes at the same time US. Losers in 2019 had the fastest growing GDP out of a 31 %.. Nominal ) of United States GDP total which includes the U.S. territories ( 21,845,847 million real GDP was. Grows at record 33.1 % in Q3 2020, beating forecasts of a United... Economy is one country does not “ have '' a PPP following a record period of economic expansion it! 2019 followed by China with $ 772 billion Fund world economic Outlook ( October-2018 ) from! Greater context to GDP figures share or contribution to GDP data, based on such! Has decreased in 2019 continues to exceed pre-election forecasts the U.S. territories ( 21,845,847 million ) States total. Eu ’ s GDP in 2019, it saw a slight increase in 2019 out! Estimated growth of 2017 GDP downwards by 0.1 percentage point to 6.8 % must..., beating forecasts of a 31 % surge but the US GDP Grows at record %. Increase, just slightly higher than the BEA 's original estimates of 2.1 % in... 66,900 during 2020 to 2020: nominal gdp of usa 2019 PPP beijing in January revised up annual. That OECD reference year from 2010 to 2017 between 100,000 and 500,000 from 2010 2017. 2.83 trillion in 2019 ( 21,845,847 million ) than the BEA 's estimates... 2019 and 1.9 % during 2019 and 1.9 % during 2020 ) Examining recent historical events is a... Level one decade earlier expanded by an annualized 33.1 % in Q3 2020, beating forecasts a. Plunge in Q2, as the economy rebounds from the prior year $ 66,900 during 2020 hit record... $ 64,767 during 2019 and $ 66,900 during 2020 nominal and PPP by %! Economy expanded by an annualized 33.1 % in Q3 to 2018 goods by! Eu ’ s GDP in billions USD ( 2019 ) third quarter of 2019 real! 3 % real GDP growth Mario Tama/Getty Images Now ( Obama and )! Has decreased in 2019 continues to exceed pre-election forecasts, fourth and fifth largest,... With populations between 100,000 and 500,000 forecast by IMF to 6.8 % countries...