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The New York Times reported on June 10, 2020, that "the United States budget deficit grew to a record $1.88 trillion for the first eight months of this fiscal year." [131] The US economy recovered from the COVID-19 pandemic in 2021, growing by 5.7%, which was its best performance since Ronald Reagan's presidency (1981–1989). [132]
Long Term Economic Growth – 1860–1965: A Statistical Compendium. Business Booms and Depressions since 1775, a chart of the past trend of price inflation, federal debt, business, national income, stocks and bond yields for the United States from 1775 to 1943. Budget of the United States Government.
China. China represented 1.61% of the world's economy in 1987 (lowest point), rising to 18.4% (nominal) and 19% (PPP) in 2022. It accounted for 25.4% of global GDP in 1 CE, 29% of world global output in 1600 CE, 17.3% of the world's economy in 1870, and 33% in 1820 (its highest point). China's share of global GDP varied from a quarter to a ...
CNN reported in September 2020 that GDP grew 4.1% on average under Democrats, versus 2.5% under Republicans, from 1945 through the second quarter of 2020, a difference of 1.6 percentage points. [3] In February 2021, The New York Times reported: "Since 1933, the economy has grown at an annual average rate of 4.6 percent under Democratic ...
However, private economic activity expanded at a brisk pace throughout this period. The expansion lasted just over three years, followed by another brief recession in late 1948. Oct 1949–. July 1953. 45. +4.4%. +6.9%. The United States exited recession in late 1949, and another robust expansion began.
Values are given in millions of United States dollars (USD) and have not been adjusted for inflation. These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (April 2024 edition) and/or other sources. [1] For older GDP trends, see List of regions by past GDP (PPP).
On the whole, PPP per capita figures are less spread than nominal GDP per capita figures. [5] The rankings of national economies over time have changed considerably; the economy of the United States surpassed the British Empire's output around 1916, [6] which in turn had surpassed the economy of the Qing dynasty in aggregate output decades earlier.
The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts. [26] Another example that amplifies the difference between GDP and GNI is the comparison of developed and developing country indicators. The GDP of Japan for 2020 is US$5,040,107.75 (in a million). [27]