Nominal GDP Projected to Rise 4.2% Yearly to 2022

Increasing Nominal Personal Consumption Expenditures on Services Expected to Drive Gains

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Mar 09, 2018, 11:24 ET

CLEVELAND, March 9, 2018 /PRNewswire/ -- US nominal GDP is forecast to total $23.9 trillion in 2022, according to Macroeconomy: United States, a report recently released by Freedonia Focus Reports. Increasing residential investment expenditures will drive gains over the forecast period.

More information about the report is available at https://www.freedoniafocusreports.com/Macroeconomy-United-States-FF95051/

Personal consumption expenditures (PCE) are projected to remain the largest share of GDP spending in 2022. Growth in PCE will be driven by rising disposable personal income. Nominal PCE for services is forecast to see the strongest growth among PCE segments to 2022.

These and other key insights are featured in Macroeconomy: United States. This report forecasts to 2022 US gross domestic product and retail sales in nominal and inflation-adjusted (real) US dollars, and the size of the labor force. Nominal and real GDP are segmented by sector in terms of:

services personal consumption expenditures (PCE)
nondurable goods PCE
durable goods PCE
nonresidential fixed investment
residential fixed investment
state and local government spending
federal government spending
change in private inventories
net exports

Nominal and real GDP are also segmented by US region in terms of:

South Atlantic (South)
West South Central (South)
East South Central (South)
Pacific (West)
Mountain (West)
Middle Atlantic (Northeast)
New England (Northeast)
East North Central (Midwest)
West North Central (Midwest)

Nominal retail sales of nondurable and durable goods are segmented by business type as follows:

food and beverage stores
general merchandisers
eating and drinking places
gasoline service stations
healthcare and drug stores
apparel and accessory stores
other nondurable good retailers such as flower, pet supply, and stationary outlets
automotive dealers
general hardware outlets
electronic and appliance stores
furniture and furnishing outlets
other durable good retailers such as book, music, and sporting good stores

To illustrate historical trends, GDP, retail sales, disposable personal income, interest rates, labor force size, and the various segments are provided in annual series from 2007 to 2017.

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including: