The Economy's Scoreboard

Gross Domestic Product measures the total value of goods and services produced within a country's borders during a specific period. When politicians boast about economic growth, they mean GDP went up. The US GDP in 2023 exceeded $27 trillion, roughly one-quarter of the entire world's economic output.

GDP serves as the primary report card for nations. A growing GDP generally means more jobs, higher incomes, and expanding opportunities. A shrinking GDP signals recession — fewer jobs, tighter budgets, and economic anxiety spreading through communities.