A new report from the Bureau of Economic Analysis reveals that gross domestic product (GDP), which estimates the size of the US economy through the value of the goods and services it produces, grew by 7.4% in inflation-adjusted dollars from July to September.
Sustained annual growth at this rate would translate to a 33.1% increase in GDP over the year. For comparison, GDP grew by 2.2% in 2019 and a record 18.9% in 1942, when the US entered World War II. The current-dollar GDP value now totals $21.2 trillion.
