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USAFacts
USAFacts
National

Government spending increased $2 trillion in 2020, but GDP fell by nearly a trillion

GDP Economy United States

How did GDP change in 2020?

Gross domestic product (GDP), one of the most cited numbers in economic reporting, is used to estimate the size of the US economy. GDP is calculated as the value of goods and services produced in the United States, and its growth rate is often the focus of presidential policy agendas.

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