Although the base year for economic statistics and accounting has not changed, more information has been included, such as: using previous surveys of manufacturers, wholesale and retail and other services.

Recently, the US Department of Commerce released the "new revised version of the national economic statistics report". Although the base year for economic statistics and accounting has not changed, more information has been included, such as: using previous surveys of manufacturers, wholesale and retail and other services.

has obtained a new "supply and use framework" and has richer data sources; it has also included more complete and detailed IRS tax returns for companies, sole proprietorships and partnerships; it has obtained a more complete Department of Agriculture farm income statistics, National Science Foundation annual survey, etc.

Through further revisions and improvements to the national economic statistics and accounting reports, the US Department of Commerce has made a new review of the economic growth rates and GDP values ​​in recent years. Among them, the "annual average growth rate of the economy from 2016 to 2021 was raised from 1.9% to 2.1%.

In 2021, the US GDP expanded to US$23.3 trillion

In 2021, the US economic growth rate increased from the previously announced 5.6% to 5.9%, expanding by 0.3 percentage points . In particular, the "transactions related to automobile manufacturers' production of ventilators and government purchases of ventilators" during the outbreak of the epidemic have been raised, which has promoted changes and improvements in the composition of related companies and official investments. The new report of

also optimizes the subsidy classification introduced during the epidemic by distinguishing "product subsidies" and "other production subsidies" as part of the response to the COVID-19 pandemic, improves and improves local government quarterly and annual indicators, and makes relevant statistics on production and consumption more consistent.

In short, after further improvement of data sources, the economic values ​​of the United States have undergone significant changes in recent years - mainly due to improvements. The economic decline in 2020 is not as large as previously announced; the economic growth in 2021 is even higher than previously announced.

After new statistics, The US economic real growth rate in 2021 has expanded to 5.9%, and the completed nominal GDP has climbed to a high of US$23.3 trillion. Compared with the previously announced US$23 trillion, it has increased by more than US$300 billion, and its global advantages have been further consolidated.

new report will also have a significant impact on GDP this year

As the economic growth rate in each quarter of 2021 has become higher (for example, the year-on-year growth rate in the second quarter of last year increased to 12.8%), this has caused the U.S. economic year-on-year growth rate in the first half of 2022 to be "lowered to 2.7%, a decrease of 0.5 percentage points from the previously announced 3.2%. Although the economic growth rate of

has slightly lowered, the nominal GDP value in the same period last year has become higher, which has driven further expansion in the first half of this year - is based on the new statistical report, and the nominal GDP of the United States in the first half of 2022 has increased to US$12.364 trillion.

For the growth expectations for the whole year of 2022, some institutions gave 1.4% or 1.5%, and some institutions gave predictions of about 2% - these are real growth rates. Coupled with the higher inflation rate and the base effect of the same period last year, we have reason to estimate:

In 2022, the nominal GDP value of the US based on market prices will achieve a breakthrough of US$25 trillion, setting a new high. Of course, we also need to see that this new high is "based on high inflation and sacrifices the wealth level of American residents."

At the same time, we also need to see that this new high is "based on the continuous adjustment of economic statistical rules by the US Department of Commerce", and this adjustment has also played a huge role in promoting the scale of the US economy. What do netizens think about this? This article is written by Nan Sheng. Please do not reprint or plagiarize without authorization!