Source: world bank Nominal/PPP
Summary:
United States GDP Per Capita expanded from 1960 to 2024, increasing from $2,999.86 to $84,534.04 .The compound annual growth rate (CAGR) averaged 5.36% over the period. The economy recorded its peak level in 2024 and its lowest level in 1960. Growth volatility remained moderate. The maximum drawdown reached 2.83%, indicating the largest cyclical decline from peak levels. The country experienced 2 recession episode(s) during the observed period.
United States Economic Phases (1960 - 2024)
From 1960 to 2024, United States economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1964–1966) indicating robust economic expansion
- High Growth (1968–1969) indicating robust economic expansion
- High Growth (1971–1981) indicating robust economic expansion
- High Growth (1983–1985) indicating robust economic expansion
- High Growth (1987–1989) indicating robust economic expansion
- Expansion (1990–1998) indicating steady moderate growth
- High Growth (1999–2000) indicating robust economic expansion
- Expansion (2001–2003) indicating steady moderate growth
- High Growth (2004–2005) indicating robust economic expansion
- Expansion (2006–2008) indicating steady moderate growth
- Expansion (2010–2019) indicating steady moderate growth
- High Growth (2021–2023) indicating robust economic expansion
- Expansion (2024–2024) indicating steady moderate growth
The most remarkable growth occurred in 1978 with an increase of 11.768%, while the largest decline was in 2009 at -2.831%.