If you ask an economics professor about what GDP is, they will tell you that it is the total value of all goods and services produced by a country at a given time. That’s a simple enough definition, but how do you calculate that massive number?

Commerce Secretary Howard Lutnick says he could take government spending out of his agency's reports on gross domestic product.

The Commerce Department in its most recent GDP report, showed that the economy grew at an annual rate of 2.3% in the final three months of 2024