Nominal GDP Projected to Rise 4.2% Yearly to 2022


Cleveland, OH, March 8, 2018 — 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.

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.

More information about the report is available at