Government spending makes up 6% of total gross domestic product. And besides, spending cuts come with economic ripple effects.
Recent data has suggested the U.S. consumer may be weakening. Nonetheless this is not yet sufficient to challenge likely strong Q1 growth for the U.S. economy.
According to the provisional results available, GDP in 2024 (seasonally, calendar and sport event adjusted) grew by 0.9%, compared with 1.2% the previous year. [3] Unadjusted, this results in GDP growth of 1.3% in 2024, compared to 0.7% in the previous year.
Vietnam's goods exports to the United States accounted for 30% of its gross domestic product last year, the highest share among U.S. top trade partners, a Reuters review of public data shows, making the country highly vulnerable to reciprocal tariffs.
Hungary's economic growth this year is likely to come in between 2% and 3%, below the official government forecast of 3.4%, Prime Minister Viktor Orban's chief of staff said in a podcast on news site 24.
Major cities are the primary drivers of the U.S. economy. According to the U.S. Census Bureau, about 86% of Americans lived in a metropolitan area in 2023 — and data from the Bureau of Economic Analysis shows that these places accounted for over 90% of U.
Argentina’s economy expanded more than expected in December, solidifying the country’s bounceback in the last quarter of the year under President Javier Milei’s watch.