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The United States is a highly developed/advanced mixed economy. [42] [43] [44] It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. [45]
The three U.S. states with the highest GDPs were California ($3.987 trillion), Texas ($2.664 trillion), and New York ($2.226 trillion). The three U.S. states with the lowest GDPs were Vermont ($44.4 billion), Wyoming ($51.4 billion), and Alaska ($69.2 billion). GDP per capita also varied widely throughout the United States in 2024, with New ...
The economic history of the United States is about characteristics of and important developments in the economy of the U.S., from the colonial era to the present. The emphasis is on productivity and economic performance and how the economy was affected by new technologies, the change of size in economic sectors and the effects of legislation and government policy.
The 1815 panic was followed by several years of mild depression, and then a major financial crisis – the Panic of 1819, which featured widespread foreclosures, bank failures, unemployment, a collapse in real estate prices, and a slump in agriculture and manufacturing. [ 9] 1822–1823 recession. 1822–1823. ~1 year.
The United States Census Bureau currently conducts a comprehensive Economic Census [1] every five years. The results of this survey are tabulated according to the NAICS and provide statistics about the U.S. economy.
Budget and debt in theUnited States of America. The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP). [ a] GDP in Q1 decline was due to foreclosures and increased rates of household saving.
Since World War II, the United States economy has performed significantly better on average under the administration of Democratic presidents than Republican presidents. The reasons for this are debated, and the observation applies to economic variables including job creation, GDP growth, stock market returns, personal income growth and corporate profits.
The United States is the world's second-largest manufacturer after the People's Republic of China with a record high real output in 2021 of $2.5 trillion. [ 2] As of December 2016, the U.S. manufacturing industry employed 12.35 million people. A year later, in December 2017, U.S. manufacturing employment grew by 207,000, or 1.7%, employees. [ 3]