PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1513553
PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1513553
Localized Manufacturing, Innovation, and Long-term Policy Thrust on Infrastructure and Green Energy Will Be Crucial Growth Determinants
The United States' economic growth remained buoyant throughout 2023 amid stronger-than-expected consumer spending and falling inflation. However, Frost & Sullivan expects real gross domestic product (GDP) growth to slow from 2.5% in 2023 to 2.2% in 2024 amid the delayed effects of monetary policy tightening on domestic spending. The United States will remain the world's largest economy until 2030, with nominal GDP forecast to reach $35.4 trillion under the baseline and $36.7 trillion under the accelerated scenario.
The analysis provides an in-depth assessment of the United States through an economic, social, and political lens. It also includes US GDP forecasts based on scenario analysis, where we assume increased labor productivity and optimal policy efficacy are the two top drivers of accelerated growth compared to the baseline.
The impact areas covered are:
The study period is 2022-2030, with 2023 as the base year and 2024-2030 as the forecast period.