Macroeconomy: United States

Macroeconomy: United States

This report forecasts annually to 2028 US gross domestic product (GDP) in nominal and real (inflation-adjusted) US dollars. Nominal and real GDP are segmented by component in terms of: services personal consumption expenditures (PCE), nondurable goods PCE, durable goods PCE, nonresidential fixed investment, residential fixed investment, state and local government spending, federal government spending, change in private inventories, and net exports.

This report also forecasts annually to 2028 US retail sales in nominal US dollars. Retail sales are segmented by business type as follows: nondurable goods (eating and drinking places, food and beverage stores, general merchandise stores, gasoline service stations, healthcare and drug stores, apparel and accessory stores, and other nondurable goods retailers) and durable goods (vehicle dealers, general hardware, furniture and furnishings stores, electronics and appliances stores, and other durable goods retailers).

To illustrate historical trends, GDP, retail sales, disposable personal income, interest rates, labor force size, and the various segments are provided in annual series from 2013 to 2023.

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.

Key macroeconomic indicators are also provided with quantified trends. A full outline of report items by page is available in the Table of Contents.