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The computation is (GDP2/ GDP1)^(4/N) -1, where: GDP2 is the GDP for the president's last full quarter in office; GDP1 is the GDP for the last full quarter of the previous president; and N is the number of quarters the president was in office.
The 1860s were a period of growing protectionism in the United States, while the European free trade phase lasted from 1860 to 1892. The tariff average rate on imports of manufactured goods in 1875 was from 40% to 50% in the United States, against 9% to 12% in continental Europe at the height of free trade. [44]
The following list includes the annual nominal gross domestic product for each of the 50 U.S. states and the national capital of Washington, D.C. and the GDP change and GDP per capita as of 2024. [1] [3] The total for the United States in this table excludes U.S. territories. The raw GDP data below is measured in millions of U.S. Dollars.
US real GDP increased at an annual rate of 2.8% in the third quarter. Wall Street is bracing for more tech earnings, with Meta due to report after the closing bell.
Goldman then expects one 25 basis point cut per quarter until the second quarter of 2026, when the fed funds rate would reach 3.5-3.75%, a "higher equilibrium rate than last cycle."
Since March 2022, the U.S. central bank has raised its benchmark overnight interest rate by 525 basis points to the current 5.25%-5.50% range. The government also revised GDP data from 2017.
This work is in the public domain in the United States because it is a work prepared by an officer or employee of the United States Government as part of that person’s official duties under the terms of Title 17, Chapter 1, Section 105 of the US Code.