US GDP for 2024 Updated

On January 31, 2025 usgovernmentspending.com updated its GDP series with the latest data from the Bureau of Economic Analysis, under "Supplemental Information & Additional Data" including nominal US GDP for third quarter 2024 of $29.375 trillion and real US GDP  for third quarter 2024 of $23.400 trillion in 2017 dollars. Real GDP is now expressed in 2017 dollars.

Up to now, usgovernmentspending.com has shown GDP for calendar years. But the OMB forecast for US GDP in Table 10.1 - Gross Domestic Product and Deflators Used in the Historical Tables uses GDP for the US federal government's fiscal year that ends every year on September 30. So we have changed GDP to the US fiscal year.

Thus GDP, real and nominal, looks like this:

• US GDP source from 1790 to 1928 is calendar GDP from measuringworth.com.
• US GDP source from 1929 to 1946 is calendar GDP from the Bureau of Economic Analysis, under "Supplemental Information and Data"
• US GDP source from 1947 to the present is third quarter GDP from the Bureau of Economic Analysis, under "Supplemental Information and Data."

usgovernmentspending.com computes inflation rate as:

((This Year GDP - Last Year GDP)/Last Year GDP - (This Year Real GDP - Last Year Real GDP)/Last Year Real GDP)*100.

US Gross Output for 2023 Released

On May 6, 2024, usgovernmentspending.com updated its Gross Output series with the latest data from the Bureau of Economic Analysis, including nominal Gross Output for calendar 2023 of $47.837 trillion. Gross Output for some years previous to 2023 have been revised by BEA.

usgovernmentspending.com reports Gross Output on its Spending Details page and permits charting of spending and revenue as "percent of Gross Output".

The Gross Output series extends back to 1947.

Process:

1. Click on link.
2. Click on "Underlying Detail Tables." 
3. Click on "view detail levels tables... in XLSX format."
4. Click on "Gross Output by Industry" link
5. Save .xlsx file.

US, State Population Update for 2024

On December 18, 2024 the US Census Bureau released its US national and state population estimates for July 1, 2024.  On December 20, 2024 usgovernmentspending.com updated its US and state population data as follows:

• We updated 2020-2024 population data from US and states using data from US Census National Population Totals and Components of Change 2020-2024 in file NST-EST2024-POP.xlsx.
• We updated 2010-2020 population data for US and states using data from National Intercensal Population Totals: 2010-2020: from file NST-EST2020.xlsx.
• We projected 2022 thru 2030 for the US and states projecting population rate change for 2023-24 through 2030.

usgovernmentspending.com uses population data in computing per capita spending and revenue data. You can see per capita spending data in a chart here, and in a table of spending here.

You can check the data update schedule here.