United States - Economic Indicators

For Yearlong Changes, Profits Grow When Capacity Utilization Rises

Nov 16, 2018

The 10-year Treasury yield eased to 3.07% as a growing number of high-ranking Federal Reserve officials hinted that they are open to a more gradual firming of monetary policy. A recent consensus forecast that the annual growth rate for the revenues of S&P 500 companies will decelerate by 2 to 3 percentage points complements expectations of a slowdown by nominal GDP growth. Slower nominal GDP growth ought to limit the upside for benchmark interest...

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GDP Reference Last Previous Units Frequency
Private Consumption 2018 Q3 14,067,279 13,875,616 Mil. USD, SAAR Quarterly
Real Private Consumption 2018 Q3 12,968,538 12,842,022 Mil. Ch. 2012 USD, SAAR Quarterly
Real Government Consumption 2018 Q3 3,197,462 3,171,810 Mil. Ch. 2012 USD, SAAR Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q3 3,605,496 3,589,908 Mil. USD, SAAR Quarterly
Government Consumption 2018 Q3 3,552,345 3,506,571 Mil. USD, SAAR Quarterly
Real Gross Domestic Product 2018 Q3 18,671,497 18,511,576 Mil. Ch. 2012 USD, SAAR Quarterly
Real Fixed Investment (gross fixed capital formation) 2018 Q3 3,320,136 3,322,332 Mil. Ch. 2012 USD, SAAR Quarterly
Nominal Gross Domestic Product 2018 Q3 20,659,029 20,411,924 Mil. USD, SAAR Quarterly
Investment 2018 Q3 3,685,892 3,579,518 Mil. USD, SAAR Quarterly
Real Investment 2018 Q3 3,412,143 3,316,718 Mil. Ch. 2012 USD, SAAR Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Oct 2018 252.83 251.99 Index 1982-84=100, SA Monthly
Producer Price Index (PPI) Oct 2018 206.2 204.7 Index 1982=100, SA Monthly
Wholesale Price Index 2016 100.37 103.09 Index 2010 = 100 Annual
Labor Reference Last Previous Units Frequency
Manufacturing Employment Oct 2018 12,785 12,753 Ths. #, SA Monthly
Total Employment Non-Ag Oct 2018 149,750 149,500 Ths. #, SA Monthly
Labor Force Oct 2018 162,637 161,926 Ths. #, SA Monthly
Labor Force Employment Oct 2018 156,562 155,962 Ths. #, SA Monthly
Unemployment Oct 2018 6,075 5,964 Ths. #, SA Monthly
Unemployment Rate Oct 2018 3.7 3.7 %, SA Monthly
Wage & Salaries 2018 Q3 8,905,011 8,806,162 Mil. USD, SAAR Quarterly
Primary Industries Employment Mar 2018 1,138,843 1,129,288 #, NSA Monthly
Agriculture Employment 2016 2,702,095 2,674,749 # Annual
Trade Reference Last Previous Units Frequency
Imports of Goods Sep 2018 219,084 215,624 Mil. USD, SA Monthly
Balance of Goods Sep 2018 -77,226 -76,634 Mil. USD, SA Monthly
Exports of Goods Sep 2018 141,858 138,990 Mil. USD, SA Monthly
Exports of Goods and Services 2018 Q3 2,546,189 2,568,714 Mil. USD, SAAR Quarterly
Net Exports 2018 Q3 -646,487 -549,781 Mil. USD, SAAR Quarterly
Real Exports of Goods and Services 2018 Q3 2,551,208 2,574,245 Mil. Ch. 2012 USD, SAAR Quarterly
Real Imports of Goods and Services 2018 Q3 3,490,225 3,415,210 Mil. Ch. 2012 USD, SAAR Quarterly
Real Net Exports 2018 Q3 -939,017 -840,965 Mil. Ch. 2012 USD, SAAR Quarterly
Imports of Goods and Services 2018 Q3 3,192,676 3,118,496 Mil. USD, SAAR Quarterly
Government Reference Last Previous Units Frequency
Outstanding Public Debt Oct 2018 21,702,369 21,516,057 Mil. USD Monthly
Government Expenditures Oct 2018 353,183 224,443 Mil. USD, NSA Monthly
Government Revenues Oct 2018 252,692 343,559 Mil. USD, NSA Monthly
Government Budget Balance Oct 2018 -100,491 119,116 Mil. USD, NSA Monthly
Gross External Debt 2018 Q2 6,562,448 6,546,130 Mil. USD, NSA Quarterly
Markets Reference Last Previous Units Frequency
Lending Rate 15 Nov 2018 2.2 2.2 % p.a., NSA Business Daily
Treasury Bills (over 31 days) 15 Nov 2018 2.32 2.33 % p.a., NSA Business Daily
Average Long-term Government Bond 15 Nov 2018 3.11 3.12 % p.a., NSA Business Daily
Stock Market Index 15 Nov 2018 25,289 25,080 Index 26May1896=40.94, NSA Daily
Money Market Rate Oct 2018 2.23 2.06 % p.a., NSA Monthly
Monetary Policy Rate Apr 2017 0.88 0.88 % - End of period Monthly
Real Estate Reference Last Previous Units Frequency
House Price Value for New Homes Sep 2018 315,877 323,952 $, SA Monthly
House Price Value for Existing Homes Sep 2018 260.99 261.22 Ths. USD, SA Monthly
Residential Building Permits Sep 2018 1,270 1,249 Ths. #, SAAR Monthly
Building Completions Sep 2018 1,162 1,212 Ths., SAAR Monthly
Residential Housing Starts Sep 2018 1,201 1,268 Ths. #, SAAR Monthly
House Price Index 2018 Q2 424.05 414.22 Index 1980Q1=100, NSA Quarterly
Dwelling Stocks 2017 137,403 136,312 Ths. # Annual
Consumer Reference Last Previous Units Frequency
Consumer Confidence Oct 2018 101.43 101.38 Index Long term avg=100, SA Monthly
Retail Sales Sep 2018 509,041 508,514 Mil. USD, CDASA Monthly
Personal Income 2018 Q3 17,680,195 17,499,825 Mil. USD, SAAR Quarterly
Business Reference Last Previous Units Frequency
Purchasing Managers index Oct 2018 57.7 59.8 Diffusion index, SA Monthly
Capacity Utilization Oct 2018 78.39 78.45 %, SA Monthly
Industrial Production Oct 2018 109.07 108.95 Index 2012=100, SA Monthly
Business Confidence Oct 2018 101.06 101.3 Index long term avg=100, SA Monthly
Real Change in Inventories 2018 Q3 76,327 -36,812 Mil. Ch. 2012 USD, SAAR Quarterly
Change in Inventories 2018 Q3 80,396 -10,390 Mil. USD, SAAR Quarterly
Demographics Reference Last Previous Units Frequency
Population Dec 2018 329,039 328,844 Ths., SA Monthly
Net Migration 2017 1,111 1,132 Ths. Annual

Factbook

Background

Background:
Britain's American colonies broke with the mother country in 1776 and were recognized as the new nation of the United States of America following the Treaty of Paris in 1783. During the 19th and 20th centuries, 37 new states were added to the original 13 as the nation expanded across the North American continent and acquired a number of overseas possessions. The two most traumatic experiences in the nation's history were the Civil War (1861-65), in which a northern Union of states defeated a secessionist Confederacy of 11 southern slave states, and the Great Depression of the 1930s, an economic downturn during which about a quarter of the labor force lost its jobs. Buoyed by victories in World Wars I and II and the end of the Cold War in 1991, the US remains the world's most powerful nation state. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, and rapid advances in technology.

Geography

Location:
North America, bordering both the North Atlantic Ocean and the North Pacific Ocean, between Canada and Mexico
Geographic coordinates:
38 00 N, 97 00 W
Map references:
North America
Area:
total: 9,833,517 sq km
land: 9,147,593 sq km
water: 685,924 sq km
note: includes only the 50 states and District of Columbia, no overseas territories (2010)
country comparison to the world: 4
Area - comparative:
about half the size of Russia; about three-tenths the size of Africa; about half the size of South America (or slightly larger than Brazil); slightly larger than China; more than twice the size of the European Union
Land boundaries:
total: 12,048 km
border countries (2): Canada 8,893 km (including 2,477 km with Alaska), Mexico 3,155 km
note: US Naval Base at Guantanamo Bay, Cuba is leased by the US and is part of Cuba; the base boundary is 28.5 km
Coastline:
19,924 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: not specified
Climate:
mostly temperate, but tropical in Hawaii and Florida, arctic in Alaska, semiarid in the great plains west of the Mississippi River, and arid in the Great Basin of the southwest; low winter temperatures in the northwest are ameliorated occasionally in January and February by warm chinook winds from the eastern slopes of the Rocky Mountains
Terrain:
vast central plain, mountains in west, hills and low mountains in east; rugged mountains and broad river valleys in Alaska; rugged, volcanic topography in Hawaii
Elevation:
mean elevation: 760 m
elevation extremes: lowest point: Death Valley -86 m (lowest point in North America)
highest point: Denali (Mount McKinley) 6,190 m (highest point in North America)
note: the peak of Mauna Kea (4,205 m above sea level) on the island of Hawaii rises about 10,200 m above the Pacific Ocean floor; by this measurement, it is the world's tallest mountain - higher than Mount Everest (8,850 m), which is recognized as the tallest mountain above sea level
Natural resources:
coal, copper, lead, molybdenum, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber, arable land
note: the US has the world's largest coal reserves with 491 billion short tons accounting for 27% of the world's total
Land use:
agricultural land: 44.5%
arable land 16.8%; permanent crops 0.3%; permanent pasture 27.4%
forest: 33.3%
other: 22.2% (2011 est.)
Irrigated land:
264,000 sq km (2012)
Population - distribution:
large urban clusters are spread throughout the eastern half of the US (particularly the Great Lakes area, northeast, east, and southeast) and the western tier states; mountainous areas, principally the Rocky Mountains and Appalachian chain, deserts in the southwest, the dense boreal forests in the extreme north, and the central prairie states are less densely populated; Alaska's population is concentrated along its southern coast - with particular emphasis on the city of Anchorage - and Hawaii's is centered on the island of Oahu
Natural hazards:
tsunamis; volcanoes; earthquake activity around Pacific Basin; hurricanes along the Atlantic and Gulf of Mexico coasts; tornadoes in the Midwest and Southeast; mud slides in California; forest fires in the west; flooding; permafrost in northern Alaska, a major impediment to development
volcanism: volcanic activity in the Hawaiian Islands, Western Alaska, the Pacific Northwest, and in the Northern Mariana Islands; both Mauna Loa (4,170 m) in Hawaii and Mount Rainier (4,392 m) in Washington have been deemed Decade Volcanoes by the International Association of Volcanology and Chemistry of the Earth's Interior, worthy of study due to their explosive history and close proximity to human populations; Pavlof (2,519 m) is the most active volcano in Alaska's Aleutian Arc and poses a significant threat to air travel since the area constitutes a major flight path between North America and East Asia; St. Helens (2,549 m), famous for the devastating 1980 eruption, remains active today; numerous other historically active volcanoes exist, mostly concentrated in the Aleutian arc and Hawaii; they include: in Alaska: Aniakchak, Augustine, Chiginagak, Fourpeaked, Iliamna, Katmai, Kupreanof, Martin, Novarupta, Redoubt, Spurr, Wrangell, Trident, Ugashik-Peulik, Ukinrek Maars, Veniaminof; in Hawaii: Haleakala, Kilauea, Loihi; in the Northern Mariana Islands: Anatahan; and in the Pacific Northwest: Mount Baker, Mount Hood
Environment - current issues:
large emitter of carbon dioxide from the burning of fossil fuels; air pollution resulting in acid rain in both the US and Canada; water pollution from runoff of pesticides and fertilizers; limited natural freshwater resources in much of the western part of the country require careful management; desertification
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Seals, Antarctic Treaty, Climate Change, Desertification, Endangered Species, Environmental Modification, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: Air Pollution-Persistent Organic Pollutants, Air Pollution-Volatile Organic Compounds, Biodiversity, Climate Change-Kyoto Protocol, Hazardous Wastes
Geography - note:
world's third-largest country by size (after Russia and Canada) and by population (after China and India); Denali (Mt. McKinley) is the highest point in North America and Death Valley the lowest point on the continent

People & Society

Population:
326,625,791 (July 2017 est.)
country comparison to the world: 3
Nationality:
noun: American(s)
adjective: American
Ethnic groups:
white 72.4%, black 12.6%, Asian 4.8%, Amerindian and Alaska native 0.9%, native Hawaiian and other Pacific islander 0.2%, other 6.2%, two or more races 2.9% (2010 est.)
note: a separate listing for Hispanic is not included because the US Census Bureau considers Hispanic to mean persons of Spanish/Hispanic/Latino origin including those of Mexican, Cuban, Puerto Rican, Dominican Republic, Spanish, and Central or South American origin living in the US who may be of any race or ethnic group (white, black, Asian, etc.); an estimated 16.3% of the total US population is Hispanic as of 2010
Languages:
English 79%, Spanish 13%, other Indo-European 3.7%, Asian and Pacific island 3.4%, other 1% (2015 est.)
note: data represent the language spoken at home; the US has no official national language, but English has acquired official status in 32 of the 50 states; Hawaiian is an official language in the state of Hawaii, and 20 indigenous languages are official in Alaska
Religions:
Protestant 46.5%, Roman Catholic 20.8%, Jewish 1.9%, Mormon 1.6%, other Christian 0.9%, Muslim 0.9%, Jehovah's Witness 0.8%, Buddhist 0.7%, Hindu 0.7%, other 1.8%, unaffiliated 22.8%, don't know/refused 0.6% (2014 est.)
Age structure:
0-14 years: 18.73% (male 31,255,995/female 29,919,938)
15-24 years: 13.27% (male 22,213,952/female 21,137,826)
25-54 years: 39.45% (male 64,528,673/female 64,334,499)
55-64 years: 12.91% (male 20,357,880/female 21,821,976)
65 years and over: 15.63% (male 22,678,235/female 28,376,817) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 51.2
youth dependency ratio: 29
elderly dependency ratio: 22.1
potential support ratio: 4.5 (2015 est.)
Median age:
total: 38.1 years
male: 36.8 years
female: 39.4 years (2017 est.)
country comparison to the world: 60
Population growth rate:
0.81% (2017 est.)
country comparison to the world: 129
Birth rate:
12.5 births/1,000 population (2017 est.)
country comparison to the world: 158
Death rate:
8.2 deaths/1,000 population (2017 est.)
country comparison to the world: 85
Net migration rate:
3.9 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 29
Population distribution:
large urban clusters are spread throughout the eastern half of the US (particularly the Great Lakes area, northeast, east, and southeast) and the western tier states; mountainous areas, principally the Rocky Mountains and Appalachian chain, deserts in the southwest, the dense boreal forests in the extreme north, and the central prarie states are less densely populated; Alaska's population is concentrated along its southern coast - with particular emphasis on the city of Anchorage - and Hawaii's is centered on the island of Oahu
Urbanization:
urban population: 82% of total population (2017)
rate of urbanization: 0.99% annual rate of change (2015-20 est.)
Major urban areas - population:
New York-Newark 18.593 million; Los Angeles-Long Beach-Santa Ana 12.31 million; Chicago 8.745 million; Miami 5.817 million; Dallas-Fort Worth 5.703 million; WASHINGTON, D.C. (capital) 4.955 million (2015)
Sex ratio:
at birth: NA
0-14 years: 1.04 male(s)/female
15-24 years: 1.05 male(s)/female
25-54 years: 1 male(s)/female
55-64 years: 0.93 male(s)/female
65 years and over: 0.79 male(s)/female
total population: 0.97 male(s)/female (2017 est.)
Mother's mean age at first birth:
26.4 years (2015 est.)
Maternal mortality ratio:
14 deaths/100,000 live births (2015 est.)
country comparison to the world: 138
Infant mortality rate:
total: 5.8 deaths/1,000 live births
male: 6.3 deaths/1,000 live births
female: 5.3 deaths/1,000 live births (2017 est.)
country comparison to the world: 170
Life expectancy at birth:
total population: 80 years
male: 77.7 years
female: 82.2 years (2017 est.)
country comparison to the world: 43
Total fertility rate:
1.87 children born/woman (2017 est.)
country comparison to the world: 143
Contraceptive prevalence rate:
74.1%
note: percent of women aged 15-44 (2011/13)
Health expenditures:
17.1% of GDP (2014)
country comparison to the world: 1
Physicians density:
2.57 physicians/1,000 population (2014)
Hospital bed density:
2.9 beds/1,000 population (2013)
Drinking water source:
improved:
urban: 99.4% of population
rural: 98.2% of population
total: 99.2% of population
unimproved:
urban: 0.6% of population
rural: 1.8% of population
total: 0.8% of population (2015 est.)
Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA
HIV/AIDS - deaths:
NA
Obesity - adult prevalence rate:
36.2% (2016)
country comparison to the world: 12
Children under the age of 5 years underweight:
0.5% (2012)
country comparison to the world: 136
Education expenditures:
5% of GDP (2014)
country comparison to the world: 63
School life expectancy (primary to tertiary education):
total: 17 years
male: 16 years
female: 17 years (2014)
Unemployment, youth ages 15-24:
total: 10.4%
male: 11.4%
female: 9.3% (2016 est.)
country comparison to the world: 127

Government

Country name:
conventional long form: United States of America
conventional short form: United States
abbreviation: US or USA
etymology: the name America is derived from that of Amerigo VESPUCCI (1454-1512) - Italian explorer, navigator, and cartographer - using the Latin form of his name, Americus, feminized to America
Government type:
constitutional federal republic
Capital:
name: Washington, DC
geographic coordinates: 38 53 N, 77 02 W
time difference: UTC-5 (during Standard Time)
daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November
note: the 50 United States cover six time zones
Administrative divisions:
50 states and 1 district*; Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia*, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Dependent areas:
American Samoa, Baker Island, Guam, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Midway Islands, Navassa Island, Northern Mariana Islands, Palmyra Atoll, Puerto Rico, Virgin Islands, Wake Island
note: from 18 July 1947 until 1 October 1994, the US administered the Trust Territory of the Pacific Islands; it entered into a political relationship with all four political entities: the Northern Mariana Islands is a commonwealth in political union with the US (effective 3 November 1986); the Republic of the Marshall Islands signed a Compact of Free Association with the US (effective 21 October 1986); the Federated States of Micronesia signed a Compact of Free Association with the US (effective 3 November 1986); Palau concluded a Compact of Free Association with the US (effective 1 October 1994)
Independence:
4 July 1776 (declared independence from Great Britain); 3 September 1783 (recognized by Great Britain)
National holiday:
Independence Day, 4 July (1776)
Constitution:
previous 1781 (Articles of Confederation and Perpetual Union); latest drafted July - September 1787, submitted to the Congress of the Confederation 20 September 1787, submitted for states' ratification 28 September 1787, ratification completed by nine states 21 June 1788, effective 4 March 1789; amended many times, last in 1992 (2016)
Legal system:
common law system based on English common law at the federal level; state legal systems based on common law except Louisiana, which is based on Napoleonic civil code; judicial review of legislative acts
International law organization participation:
withdrew acceptance of compulsory ICJ jurisdiction in 2005; withdrew acceptance of ICCt jurisdiction in 2002
Citizenship:
citizenship by birth: yes
citizenship by descent: yes
dual citizenship recognized: no, but the US government acknowledges such situtations exist; US citizens are not encouraged to seek dual citizenship since it limits protection by the US
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Donald J. TRUMP (since 20 January 2017); Vice President Michael R. PENCE (since 20 January 2017); note - the president is both chief of state and head of government
head of government: President Donald J. TRUMP (since 20 January 2017); Vice President Michael R. PENCE (since 20 January 2017)
cabinet: Cabinet appointed by the president, approved by the Senate
elections/appointments: president and vice president indirectly elected on the same ballot by the Electoral College of 'electors' chosen from each state; president and vice president serve a 4-year term (eligible for a second term); election last held on 8 November 2016 (next to be held on 10 November 2020)
election results: Donald J. TRUMP elected president; electoral vote - Donald J. TRUMP (Republican Party) 304, Hillary D. CLINTON (Democratic Party) 227, other 7; percent of direct popular vote - Hillary D. CLINTON 48.2%, Donald J. TRUMP 46.1%, other 5.7%
Legislative branch:
description: bicameral Congress consists of the Senate (100 seats; 2 members directly elected in each of the 50 state constituencies by simple majority vote except in Georgia and Louisiana which require an absolute majority vote with a second round if needed; members serve 6-year terms with one-third of membership renewed every 2 years) and the House of Representatives (435 seats; members directly elected in single-seat constituencies by simple majority vote except in Georgia which requires an absolute majority vote with a second round if needed; members serve 2-year terms)
elections: Senate - last held on 8 November 2016 (next to be held on 6 November 2018); House of Representatives - last held on 8 November 2016 (next to be held on 6 November 2018)
election results: Senate - percent of vote by party - NA; seats by party - Republican Party 24, Democratic Party 10; House of Representatives - percent of vote by party - NA; seats by party - Republican Party 241, Democratic Party 194,
note: in addition to the regular members of the House of Representatives there are 6 non-voting delegates elected from the District of Columbia and the US territories of American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the Virgin Islands; these are single seat constituencies directly elected by simple majority vote to serve a 2-year term (except for the resident commissioner of Puerto Rico who serves a 4-year term); the delegate can vote when serving on a committee and when the House meets as the Committee of the Whole House, but not when legislation is submitted for a “full floor” House vote; election of delegates last held on 8 November 2016 (next to be held on 6 November 2018)
Judicial branch:
highest court(s): US Supreme Court (consists of 9 justices - the chief justice and 8 associate justices)
judge selection and term of office: president nominates and, with the advice and consent of the Senate, appoints Supreme Court justices; justices appointed for life
subordinate courts: Courts of Appeal (includes the US Court of Appeal for the Federal District and 12 regional appeals courts); 94 federal district courts in 50 states and territories
note: the US court system consists of the federal court system and the state court systems; although each court system is responsible for hearing certain types of cases, neither is completely independent of the other, and the systems often interact
Political parties and leaders:
Democratic Party [Tom PEREZ]
Green Party [collective leadership]
Libertarian Party [Nicholas SARWARK]
Republican Party [Ronna Romney MCDANIEL]
Political pressure groups and leaders:
environmentalists; business groups; labor unions; churches; ethnic groups; political action committees or PACs; health groups; education groups; civic groups; youth groups; transportation groups; agricultural groups; veterans groups; women's groups; reform lobbies
International organization participation:
ADB (nonregional member), AfDB (nonregional member), ANZUS, APEC, Arctic Council, ARF, ASEAN (dialogue partner), Australia Group, BIS, BSEC (observer), CBSS (observer), CD, CE (observer), CERN (observer), CICA (observer), CP, EAPC, EAS, EBRD, EITI (implementing country), FAO, FATF, G-5, G-7, G-8, G-10, G-20, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, MINUSTAH, MONUSCO, NAFTA, NATO, NEA, NSG, OAS, OECD, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, PIF (partner), SAARC (observer), SELEC (observer), SICA (observer), SPC, UN, UNCTAD, UNESCO, UNHCR, UNITAR, UNMIL, UNMISS, UNRWA, UNSC (permanent), UNTSO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC
Flag description:
13 equal horizontal stripes of red (top and bottom) alternating with white; there is a blue rectangle in the upper hoist-side corner bearing 50 small, white, five-pointed stars arranged in nine offset horizontal rows of six stars (top and bottom) alternating with rows of five stars; the 50 stars represent the 50 states, the 13 stripes represent the 13 original colonies; the blue stands for loyalty, devotion, truth, justice, and friendship; red symbolizes courage, zeal, and fervency, while white denotes purity and rectitude of conduct; commonly referred to by its nickname of Old Glory
note: the design and colors have been the basis for a number of other flags, including Chile, Liberia, Malaysia, and Puerto Rico
National symbol(s):
bald eagle; national colors: red, white, blue
National anthem:
name: "The Star-Spangled Banner"
lyrics/music: Francis Scott KEY/John Stafford SMITH
note: adopted 1931; during the War of 1812, after witnessing the successful American defense of Fort McHenry in Baltimore following British naval bombardment, Francis Scott KEY wrote the lyrics to what would become the national anthem; the lyrics were set to the tune of "The Anacreontic Song"; only the first verse is sung

Economy

Economy - overview:
The US has the most technologically powerful economy in the world, with a per capita GDP of $59,500. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and former President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
GDP (purchasing power parity):
$19.36 trillion (2017 est.)
$18.95 trillion (2016 est.)
$18.67 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 3
GDP (official exchange rate):
$19.36 trillion (2017 est.)
GDP - real growth rate:
2.2% (2017 est.)
1.5% (2016 est.)
2.9% (2015 est.)
country comparison to the world: 144
GDP - per capita (PPP):
$59,500 (2017 est.)
$58,600 (2016 est.)
$58,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 20
Gross national saving:
17.5% of GDP (2017 est.)
18% of GDP (2016 est.)
19.4% of GDP (2015 est.)
country comparison to the world: 105
GDP - composition, by end use:
household consumption: 69.1%
government consumption: 17.2%
investment in fixed capital: 16.3%
investment in inventories: 0.3%
exports of goods and services: 12.2%
imports of goods and services: -15.1% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 0.9%
industry: 18.9%
services: 80.2%
(2017 est.)
Agriculture - products:
wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; fish; forest products
Industries:
highly diversified, world leading, high-technology innovator, second-largest industrial output in the world; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining
Industrial production growth rate:
1.8% (2017 est.)
country comparison to the world: 144
Labor force:
160.4 million
note: includes unemployed (2017 est.)
country comparison to the world: 4
Labor force - by occupation:
farming, forestry, and fishing: 0.7%
manufacturing, extraction, transportation, and crafts: 20.3%
managerial, professional, and technical: 37.3%
sales and office: 24.2%
other services: 17.6%
note: figures exclude the unemployed
(2009 est.)
Unemployment rate:
4.4% (2017 est.)
4.9% (2016 est.)
country comparison to the world: 60
Population below poverty line:
15.1% (2010 est.)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 30% (2007 est.)
Distribution of family income - Gini index:
45 (2007 est.)
40.8 (1997 est.)
country comparison to the world: 41
Budget:
revenues: $3.336 trillion
expenditures: $3.991 trillion
note: for the US, revenues exclude social contributions of approximately $1.0 trillion; expenditures exclude social benefits of approximately $2.3 trillion (2017 est.)
Taxes and other revenues:
17.2% of GDP
note: excludes contributions for social security and other programs; if social contributions were added, taxes and other revenues would amount to approximately 22% of GDP (2017 est.)
country comparison to the world: 176
Budget surplus (+) or deficit (-):
-3.4% of GDP (2017 est.)
country comparison to the world: 128
Public debt:
77.4% of GDP (2017 est.)
76.5% of GDP (2016 est.)
note: data cover only what the United States Treasury denotes as "Debt Held by the Public," which includes all debt instruments issued by the Treasury that are owned by non-US Government entities; the data include Treasury debt held by foreign entities; the data exclude debt issued by individual US states, as well as intra-governmental debt; intra-governmental debt consists of Treasury borrowings from surpluses in the trusts for Federal Social Security, Federal Employees, Hospital and Supplemental Medical Insurance (Medicare), Disability and Unemployment, and several other smaller trusts; if data for intra-government debt were added, "gross debt" would increase by about one-third of GDP
country comparison to the world: 43
Fiscal year:
1 October - 30 September
Inflation rate (consumer prices):
2.1% (2017 est.)
1.3% (2016 est.)
country comparison to the world: 97
Central bank discount rate:
0.5% (31 December 2010 est.)
0.5% (31 December 2009 est.)
country comparison to the world: 134
Commercial bank prime lending rate:
4.3% (31 December 2017 est.)
3.51% (31 December 2016 est.)
country comparison to the world: 156
Stock of narrow money:
$3.627 trillion (31 December 2017 est.)
$3.25 trillion (31 December 2016 est.)
country comparison to the world: 4
Stock of broad money:
$14 trillion (31 December 2017 est.)
$12.84 trillion (31 December 2016 est.)
country comparison to the world: 2
Stock of domestic credit:
$21.59 trillion (31 December 2017 est.)
$20.24 trillion (31 December 2016 est.)
country comparison to the world: 2
Market value of publicly traded shares:
$25.07 trillion (31 December 2015 est.)
$26.33 trillion (31 December 2014 est.)
$24.03 trillion (31 December 2013 est.)
country comparison to the world: 1
Current account balance:
$-462 billion (2017 est.)
$-451.7 billion (2016 est.)
country comparison to the world: 201
Exports:
$1.576 trillion (2017 est.)
$1.456 trillion (2016 est.)
country comparison to the world: 3
Exports - commodities:
agricultural products (soybeans, fruit, corn) 9.2%, industrial supplies (organic chemicals) 26.8%, capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%, consumer goods (automobiles, medicines) 15.0% (2008 est.)
Exports - partners:
Canada 18.3%, Mexico 15.9%, China 8%, Japan 4.4% (2016)
Imports:
$2.352 trillion (2017 est.)
$2.208 trillion (2016 est.)
country comparison to the world: 1
Imports - commodities:
agricultural products 4.9%, industrial supplies 32.9% (crude oil 8.2%), capital goods 30.4% (computers, telecommunications equipment, motor vehicle parts, office machines, electric power machinery), consumer goods 31.8% (automobiles, clothing, medicines, furniture, toys) (2008 est.)
Imports - partners:
China 21.1%, Mexico 13.4%, Canada 12.7%, Japan 6%, Germany 5.2% (2016)
Reserves of foreign exchange and gold:
$117.3 billion (31 December 2016 est.)
$117.6 billion (31 December 2015 est.)
country comparison to the world: 22
Debt - external:
$17.91 trillion (31 March 2016 est.)
$17.85 trillion (31 March 2015 est.)
note: approximately 4/5ths of US external debt is denominated in US dollars; foreign lenders have been willing to hold US dollar denominated debt instruments because they view the dollar as the world's reserve currency
country comparison to the world: 1
Stock of direct foreign investment - at home:
$4.084 trillion (31 December 2017 est.)
$3.614 trillion (31 December 2016 est.)
country comparison to the world: 3
Stock of direct foreign investment - abroad:
$5.644 trillion (31 December 2017 est.)
$5.352 trillion (31 December 2016 est.)
country comparison to the world: 3
Exchange rates:
British pounds per US dollar: 0.7836 (2017 est.), 0.738 (2016 est.), 0.738 (2015 est.), 0.607 (2014 est), 0.6391 (2013 est.)
Canadian dollars per US dollar: 1, 1.308 (2017 est.), 1.3256 (2016 est.), 1.3256 (2015 est.), 1.2788 (2014 est.), 1.0298 (2013 est.)
Chinese yuan per US dollar: 1, 6.7588 (2017 est.), 6.6445 (2016 est.), 6.2275 (2015 est.), 6.1434 (2014 est.), 6.1958 (2013 est.)
euros per US dollar: 0.885 (2017 est.), 0.903 (2016 est.), 0.9214(2015 est.), 0.885 (2014 est.), 0.7634 (2013 est.)
Japanese yen per US dollar: 111.10 (2017 est.), 108.76 (2016 est.), 108.76 (2015 est.), 121.02 (2014 est.), 97.44 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
4.088 trillion kWh (2015 est.)
country comparison to the world: 2
Electricity - consumption:
3.911 trillion kWh (2015 est.)
country comparison to the world: 2
Electricity - exports:
9.695 billion kWh (2016 est.)
country comparison to the world: 25
Electricity - imports:
80.66 billion kWh (2016 est.)
country comparison to the world: 2
Electricity - installed generating capacity:
1.074 billion kW (2015 est.)
country comparison to the world: 3
Electricity - from fossil fuels:
70.6% of total installed capacity (2015 est.)
country comparison to the world: 103
Electricity - from nuclear fuels:
9.2% of total installed capacity (2015 est.)
country comparison to the world: 18
Electricity - from hydroelectric plants:
7.4% of total installed capacity (2015 est.)
country comparison to the world: 124
Electricity - from other renewable sources:
10.7% of total installed capacity (2015 est.)
country comparison to the world: 69
Crude oil - production:
8.853 million bbl/day (2016 est.)
country comparison to the world: 3
Crude oil - exports:
590,900 bbl/day (2016 est.)
country comparison to the world: 21
Crude oil - imports:
7.85 million bbl/day (2016 est.)
country comparison to the world: 1
Crude oil - proved reserves:
36.52 billion bbl (1 January 2017 est.)
country comparison to the world: 11
Refined petroleum products - production:
20.08 million bbl/day (2016 est.)
country comparison to the world: 1
Refined petroleum products - consumption:
19.69 million bbl/day (2015 est.)
country comparison to the world: 1
Refined petroleum products - exports:
4.67 million bbl/day (2016 est.)
country comparison to the world: 1
Refined petroleum products - imports:
2.205 million bbl/day (2016 est.)
country comparison to the world: 2
Natural gas - production:
766.2 billion cu m (2015 est.)
country comparison to the world: 1
Natural gas - consumption:
773.2 billion cu m (2015 est.)
country comparison to the world: 1
Natural gas - exports:
50.52 billion cu m (2015 est.)
country comparison to the world: 7
Natural gas - imports:
76.96 billion cu m (2015 est.)
country comparison to the world: 4
Natural gas - proved reserves:
8.714 trillion cu m (1 January 2016 est.)
country comparison to the world: 4
Carbon dioxide emissions from consumption of energy:
5.402 billion Mt (2013 est.)
country comparison to the world: 2

Communications

Telephones - fixed lines:
total subscriptions: 121.53 million
subscriptions per 100 inhabitants: 38 (July 2016 est.)
country comparison to the world: 3
Telephones - mobile cellular:
total: 395.881 million
subscriptions per 100 inhabitants: 121 (July 2016 est.)
country comparison to the world: 4
Telephone system:
general assessment: a large, technologically advanced, multipurpose communications system
domestic: a large system of fiber-optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country
international: country code - 1; multiple ocean cable systems provide international connectivity; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2016)
Broadcast media:
4 major terrestrial TV networks with affiliate stations throughout the country, plus cable and satellite networks, independent stations, and a limited public broadcasting sector that is largely supported by private grants; overall, thousands of TV stations broadcasting; multiple national radio networks with many affiliate stations; while most stations are commercial, National Public Radio (NPR) has a network of some 600 member stations; satellite radio available; overall, nearly 15,000 radio stations operating (2008)
Internet country code:
.us
Internet users:
total: 246,809,221
percent of population: 76.2% (July 2016 est.)
country comparison to the world: 4

Transportation

National air transport system:
number of registered air carriers: 92
inventory of registered aircraft operated by air carriers: 6,817
annual passenger traffic on registered air carriers: 798.23 million
annual freight traffic on registered air carriers: 37.219 billion mt-km (2015)
Civil aircraft registration country code prefix:
N (2016)
Airports:
13,513 (2013)
country comparison to the world: 1
Airports - with paved runways:
total: 5,054
over 3,047 m: 189
2,438 to 3,047 m: 235
1,524 to 2,437 m: 1,478
914 to 1,523 m: 2,249
under 914 m: 903 (2013)
Airports - with unpaved runways:
total: 8,459
over 3,047 m: 1
2,438 to 3,047 m: 6
1,524 to 2,437 m: 140
914 to 1,523 m: 1,552
under 914 m: 6,760 (2013)
Heliports:
5,287 (2013)
Pipelines:
natural gas 1,984,321 km; petroleum products 240,711 km (2013)
Railways:
total: 293,564.2 km
standard gauge: 293,564.2 km 1.435-m gauge (2014)
country comparison to the world: 1
Roadways:
total: 6,586,610 km
paved: 4,304,715 km (includes 76,334 km of expressways)
unpaved: 2,281,895 km (2012)
country comparison to the world: 1
Waterways:
41,009 km (19,312 km used for commerce; Saint Lawrence Seaway of 3,769 km, including the Saint Lawrence River of 3,058 km, is shared with Canada) (2012)
country comparison to the world: 5
Merchant marine:
total: 3,611
by type: bulk carrier 5, container ship 61, general cargo 114, oil tanker 66, other 3,365 (2017)
country comparison to the world: 5
Ports and terminals:
cargo ports: Baton Rouge, Corpus Christi, Hampton Roads, Houston, Long Beach, Los Angeles, New Orleans, New York, Plaquemines (LA), Tampa, Texas City
container port(s) (TEUs): Hampton Roads (2,549,000), Houston (2,131,000), Long Beach (7,192,000), Los Angeles (8,160,000), New York/New Jersey (6,372,000), Oakland (2,278,000), Savannah (3,737,000), Seattle (3,531,000) (2015)
cruise departure ports (passengers): Miami (2,032,000), Port Everglades (1,277,000), Port Canaveral (1,189,000), Seattle (430,000), Long Beach (415,000) (2009)
oil terminal(s): LOOP terminal, Haymark terminal
LNG terminal(s) (import): Cove Point (MD), Elba Island (GA), Everett (MA), Freeport (TX), Golden Pass (TX), Hackberry (LA), Lake Charles (LA), Neptune (offshore), Northeast Gateway (offshore), Pascagoula (MS), Sabine Pass (TX)
LNG terminal(s) (export): Kenai (AK)

Military & Security

Military expenditures:
3.29% of GDP (2016)
3.3% of GDP (2015)
3.51% of GDP (2014)
3.83% of GDP (2013)
4.24% of GDP (2012)
country comparison to the world: 25
Military branches:
United States Armed Forces: US Army, US Navy (includes Marine Corps), US Air Force, US Coast Guard; note - Coast Guard administered in peacetime by the Department of Homeland Security, but in wartime reports to the Department of the Navy (2017)
Military service age and obligation:
18 years of age (17 years of age with parental consent) for male and female voluntary service; no conscription; maximum enlistment age 42 (Army), 27 (Air Force), 34 (Navy), 28 (Marines); 8-year service obligation, including 2-5 years active duty (Army), 2 years active (Navy), 4 years active (Air Force, Marines); all military occupations and positions open to women (2016)

Transnational Issues

Disputes - international:
the US has intensified domestic security measures and is collaborating closely with its neighbors, Canada and Mexico, to monitor and control legal and illegal personnel, transport, and commodities across the international borders; abundant rainfall in recent years along much of the Mexico-US border region has ameliorated periodically strained water-sharing arrangements; 1990 Maritime Boundary Agreement in the Bering Sea still awaits Russian Duma ratification; Canada and the United States dispute how to divide the Beaufort Sea and the status of the Northwest Passage but continue to work cooperatively to survey the Arctic continental shelf; The Bahamas and US have not been able to agree on a maritime boundary; US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims US-administered Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other states; Marshall Islands claims Wake Island; Tokelau included American Samoa's Swains Island among the islands listed in its 2006 draft constitution
Refugees and internally displaced persons:
refugees (country of origin): the US admitted 53,716 refugees during FY2017 including: 9,377 (Democratic Republic of the Congo); 6,886 (Iraq); 6,557 (Syria); 6,130 (Somalia); 5,078 (Burma); 3,550 (Bhutan); 2,577 (Iran)
note: more than 46,000 Venezuelans have claimed asylum since 2014 because of the economic and political crisis (2017)
Illicit drugs:
world's largest consumer of cocaine (shipped from Colombia through Mexico and the Caribbean), Colombian heroin, and Mexican heroin and marijuana; major consumer of ecstasy and Mexican methamphetamine; minor consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center

Economic Indicators for United States including actual values, historical data, and latest data updates for the United States economy.