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Is the US economy strong?

How does the government measure the economy? By tracking GDP, unemployment numbers, and the prices people pay for goods and services.

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Transcript

In this episode of Just the Facts: The US Economy and Your Pocketbook. Let's take a look at the economy and how it is working or not working for you.

Economists measure the economy by looking at what they call the gross domestic product or GDP. It's the market value of all the products and services created in a year by our economy.

Our GDP was over $27 trillion in 2023.


Page sources and methodology

All of the data on the page was sourced directly from government agencies. The analysis and final review was performed by USAFacts.

  • Bureau of Economic Analysis

    Gross Domestic Product

    Bureau of Economic Analysis logo
  • Federal Reserve Bank of St. Louis

    Gross domestic product per capita and Current Employment Statistics (Establishment Survey), Total Nonfarm

    Federal Reserve Bank of St. Louis logo

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