In its baseline outlook, the committee expects global economic growth to slow down significantly. Global real GDP growth is projected to decline from 3.5 per cent in 2024 to 2.5 per cent in 2025.

Shipping containers at the Port of Los Angeles on April 3. The latest US GDP report showed that goods imports rose by 51% in the first quarter, the fastest pace since 2020. Mario Tama/Getty Images ...

GDP is significant because it offers insight into the bedrock activity level upon which all economic outcomes depend, Mark Zandi, chief economist at Moody's Analytics, told ABC News.

New GDP data shows the U.S. economy shrank at an 0.5% annual pace from January through March, the first quarterly drop in three years.

GDP tells us how hot the economy is running, or how cool — like if we might be heading into a recession. And it's an important tool to compare countries, policies, and politicians.

Forecasters surveyed by the Federal Reserve Bank of Philadelphia in May anticipate real GDP to increase 1.4 percent in 2025, though that's down 1.0 percentage points from the same survey in February.

U.S. Commerce Secretary Howard Lutnick said on Sunday he would strip out government spending from the gross domestic product (GDP) report, but gave no indication how soon this change might happen ...

What is GDP? A simple way to define Gross Domestic Product is to break down the three words making up the term: Gross is the total market value of how much goods and services cost in the ...

The role of imports in GDP—Gross Domestic Product—confuses many people. The current political discussion about tariffs has triggered some of the misunderstanding. This article aims to help ...

U.S. defense spending was 3.38% of GDP in 2024, based on NATO's figures. America's defense spending has been above 3% since NATO devised the 2% threshold in 2014, when it was at 3.71%.

GDP tells us how much the economy grew or shrank, governments look to it when crafting economic policy, investors watch it to decide where to route flows of money.