For economists, GDP is like a satellite in space that provides a view of the economy’s overall weather—it lets us know if it’s growing, contracting, or if a storm may be brewing. It’s a key tool for government and central bank policymakers who try to boost or slow the economy, provide the liquidity needed for loans, and reduce inflation.
Global GDP growth is on track to ease over the next year before rebounding somewhat in 2027. The Conference Board forecasts that the global economy is still experiencing a strong headwind from rising trade barriers and elevated uncertainty.
As the world’s economies converge, international discord has upended many of the policy certainties that have been instrumental in shrinking poverty and expanding prosperity since World War II. Amid new threats to global economic stability, a reset is needed, including renewed global cooperation, restored fiscal responsibility, and a relentless focus on creating jobs.
In the table below, you can select the country and time series you want to examine. Then you can see a graph of the evolution over time and a breakdown by component of GDP (PPP and MER).
In the United States, value added is led by manufacturing, private consumption, and investment, while in China, output and demand are mainly driven by manufacturing. However, a significant portion of production in the country is not captured by GDP because it is provided outside markets and not recorded in official statistics—for example, the bread baked by a baker for his family. Other unmeasured production includes quality improvements in existing products and the introduction of new products that were not available in the past, but which are incorporated into GDP by being purchased by consumers.