2016 Economic data

United States Economic Growth

GDP will grow rapidly this year as the impact of the pandemic fades and the labor market recovers. Ample fiscal stimulus under the Biden administration and a loose monetary stance should also support activity. That said, uncertainty over new Covid-19 variants and ongoing tense relations with China pose downside risks. FocusEconomics panelists see GDP growing 6.4% in 2021, which is down 0.2 percentage points from the previous month’s forecast. In 2022, our panel sees the economy expanding 4.1%.

United States Economy Data

2015 2016 2017 2018 2019
Population (million)321323325327329
GDP per capita (USD)56,78757,90160,00062,86965,076
GDP (USD bn)18,22518,71519,51920,58021,428
Economic Growth (GDP, annual variation in %)2.91.62.42.92.3
Domestic Demand (annual variation in %)3.61.92.63.12.4
Consumption (annual variation in %)3.72.72.63.02.6
Investment (annual variation in %)3.41.94.24.61.3
Exports (G&S, annual variation in %)0.50.03.53.00.0
Imports (G&S, annual variation in %)5.32.04.74.41.0
Industrial Production (annual variation in %)-1.0-2.02.33.90.9
Retail Sales (annual variation in %)2.63.04.34.53.6
Unemployment Rate5.34.94.33.93.7
Fiscal Balance (% of GDP)-2.4-3.1-3.4-3.8-4.6
Public Debt (% of GDP)104107105107108
Money (annual variation in %)5.86.85.73.95.1
Inflation Rate (CPI, annual variation in %, eop)0.62.12.11.92.3
Inflation Rate (CPI, annual variation in %)0.11.32.12.41.8
Inflation (PPI, annual variation in %)-0.90.42.32.91.7
Policy Interest Rate (%)0.500.751.502.501.75
Stock Market (annual variation in %)-2.213.425.1-5.622.3
Current Account (% of GDP)-2.2-2.3-2.3-2.4-2.3
Current Account Balance (USD bn)-407.8-428.4-439.7-491.0-498.4
Trade Balance (USD billion)-761.9-749.8-799.4-880.3-864.3
 

2016 US Economic Data

 
 
Gross Domestic Product (GDP)
Current Numbers
  • 4th quarter 2016: 1.9 percent
  • 3rd quarter 2016: 3.5 percen
Personal Income
Current Numbers
  • December 2016: 0.3 percent (personal income)
  • November 2016: 0.1 percent (personal income)
U.S. Balance of Payments (International Transactions)
Current Account Balance:
  • 3rd quarter 2016: -$113.0 billion
  • 2nd quarter 2016: -$118.3 billion
International Investment Position
Net International Investment Position at End of Period:
  • End of 3rd quarter 2016: -$7,781.1 billion
  • End of 2nd quarter 2016: -$8,026.9 billion
International Trade in Goods and Services
Trade Balance:
  • December 2016: -$44.3 billion
  • November 2016: -$45.7 billion

Sources may include but not limited to Bureau of Economic Analysis, US Department of Commerce. *We disclaim any and all liability to you for the service that we provide to the fullest extent permissible under applicable law. We cannot accept any liability for any loss, damage or expense, including any direct or indirect loss such as loss of profits, to you howsoever arising. The use of the website provided is entirely at your own risk and we cannot be held liable for any loss, damage or injury suffered or incurred as a result.


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