US economy outstripped China in 2024 for third year in a row
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In 2024, the U.S. GDP increased by 5.3%, while China's nominal GDP growth was 4.2%; U.S. inflation rates contributed to higher nominal GDP figures; China's real GDP grew by 5%, but U.S. real GDP was at 2.8%; U.S. GDP per capita was $82,769 compared to China's $12,614 in 2023; U.S. consumer spending drove growth, with over 2.2 million jobs added; U.S. merchandise trade deficit reached nearly $1.1 trillion; China had a record trade surplus of $992 billion; Economic challenges in China include a property-market slump and low consumer confidence; Donald Trump is expected to impose tariff hikes in 2025.
#UsEconomy #ChinaEconomy #GdpGrowth #TradeDeficit #Inflation #ConsumerSpending #Employment #EconomicPolicy #DonaldTrump #2024
https://www.gmtoday.com/business/us-economy-outstripped-china-in-2024-for-third-year-in-a-row/article_418a1416-dfe3-11ef-8d74-d7ad5cbb9fc6.html
Greater Milwaukee Today | GMToday.com /
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2025-01-31 15:52:51
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npub1astlukk555d99qcj9g885exkch6p95j8nyf8nfq828vnpfpzzx7sqjt3frPublished at
2025-01-31 15:52:51Event JSON
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"content": "US economy outstripped China in 2024 for third year in a row\n==========\n\nIn 2024, the U.S. GDP increased by 5.3%, while China's nominal GDP growth was 4.2%; U.S. inflation rates contributed to higher nominal GDP figures; China's real GDP grew by 5%, but U.S. real GDP was at 2.8%; U.S. GDP per capita was $82,769 compared to China's $12,614 in 2023; U.S. consumer spending drove growth, with over 2.2 million jobs added; U.S. merchandise trade deficit reached nearly $1.1 trillion; China had a record trade surplus of $992 billion; Economic challenges in China include a property-market slump and low consumer confidence; Donald Trump is expected to impose tariff hikes in 2025.\n\n#UsEconomy #ChinaEconomy #GdpGrowth #TradeDeficit #Inflation #ConsumerSpending #Employment #EconomicPolicy #DonaldTrump #2024\n\nhttps://www.gmtoday.com/business/us-economy-outstripped-china-in-2024-for-third-year-in-a-row/article_418a1416-dfe3-11ef-8d74-d7ad5cbb9fc6.html",
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