Macroeconomy: United States

Report Overview

This report forecasts to 2021 and 2025 US gross domestic product in nominal and inflation-adjusted US dollars. Nominal and real GDP are segmented by component in terms of: personal consumption expenditures (PCE) on services, PCE on nondurable goods, PCE on durable goods, nonresidential fixed investment, residential fixed investment, state and local government spending, federal government spending, change in private inventories, and net exports.

Nominal GDP is also segmented by US region as follows: South (South Atlantic, West South Central, East South Central) West (Pacific and Mountain), Northeast (Middle Atlantic and New England), and Midwest (East North Central and West North Central).

GDP is the broadest measure of macroeconomic activity and is defined as the sum of PCE, investment, government spending, and net exports. The Freedonia Group’s Consensus Forecasts for GDP and other major macroeconomic indicators draw on the projections of 10 to 30 sources.

This report also forecasts US retail sales to 2021 and 2025 in nominal US dollars. Retail sales are segmented by business type as follows: nondurable goods (general merchandise, food & beverage stores, gasoline service stations, apparel & accessory stores, eating and drinking places, health care & drug stores, and other nondurables) and durable goods (general hardware, vehicle dealers, furniture & furnishings, electronics & appliances, and other durable goods).

To illustrate historical trends, GDP, retail sales, disposable personal income, interest rates, labor force size, and the various segments thereof are provided in annual series from 2020 to 2020.

Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.

• Historical Trends
• Key Economic Indicators
• Civilian Labor Force
• Impact of COVID-19
• Interest Rate Trends
• Goods & Services Trade
• North American GDP

• Personal Consumption Expenditures
• Investment
• Government
• Net Exports

• South
• West
• Northeast
• Midwest

• Nondurable Goods
• Durable Goods

• Industry Characteristics
• Market Share

• Scope
• Sources
• Freedonia Methodology
• Resources

• Figure 1 | Key Trends in US GDP Demand, 2020 - 2025
• Figure 2 | US GDP Demand Trends, 2010 - 2020
• Table 1 | Key Indicators for US Macroeconomy, 2010 - 2025 (mil persons)
• Figure 3 | US Civilian Labor Force by Status, 2010 - 2025 (mil persons)
• Table 2 | US Civilian Labor Force by Status, 2010 - 2025 (mil persons)
• Figure 4 | US Federal Funds Effective Rate & Bank Prime Loan Rate, 2010 - 2020 (%)
• Table 3 | US Federal Funds Effective Rate & Bank Prime Loan Rate, 2010 - 2020 (%)
• Figure 5 | US Trade in Goods & Services, 2010 - 2020
• Table 4 | US Trade in Goods & Services, 2010 - 2020 (US$ bil)
• Figure 6 | North American GDP by Country, 2010 - 2025 (2019US$ tril)
• Table 5 | North American GDP by Country, 2010 - 2025 (2019US$ bil)
• Figure 7 | US Nominal GDP Component Growth, 2020 - 2025 (US$ tril)
• Table 6 | US Nominal GDP by Component, 2010 - 2020 (US$ bil)
• Table 7 | US Nominal GDP by Component, 2020 - 2025 (US$ bil)
• Figure 8 | US Real GDP Growth by Component, 2020 - 2025 (2012US$ tril)
• Table 8 | US Real GDP by Component, 2010 - 2020 (2012US$ bil)
• Table 9 | US Real GDP by Component, 2020 - 2025 (2012US$ bil)
• Figure 9 | Survey: US Adults Level of Concern About Rising Prices, 2021 (%)
• Figure 10 | Survey: US Adults Level of Concern About Product Shortages, 2021 (%)
• Figure 11 | US Nominal & Real Disposable Personal Income, 2010 - 2025
• Figure 12 | US Personal Savings Rate, 2010 - 2020 (% of Disposable Personal Income)
• Figure 13 | US Nominal Broad Dollar Index, 2010 - 2021 (2012=100)
• Figure 14 | US GDP by Region, 2010 - 2025 (US$ tril)
• Table 10 | US GDP by Region, 2010 - 2025 (US$ bil)
• Figure 15 | US GDP by Region, 2010 - 2025 (%)
• Figure 16 | US Retail Sales by Type, 2010 - 2025 (US$ tril)
• Table 11 | US Retail Sales by Business Type, 2010 - 2020 (US$ bil)
• Table 12 | US Retail Sales by Business Type, 2020 - 2025 (US$ bil)