Peak Growth in the Late 1990s

The United States experienced its peak annual real GDP growth rates in the late 1990s, with 4.8% in 1999 and 4.5% in 1998, showcasing a period of robust economic expansion.

Economic Contractions in 2020 and 2009

The economy contracted during the years 2020 and 2009, with annual rates of -2.8% and -2.6% respectively, reflecting the impacts of the COVID-19 pandemic and the global financial crisis.

Recovery Post-Recessions

Following the recession in 2009, a significant recovery occurred with a growth rate of 2.7% in 2010, and similarly, after the contraction in 2020, the economy rebounded with a 5.9% growth rate in 2021.

Steady Growth in the Early 2000s

The early 2000s saw steady economic growth, with rates ranging from 1.7% to 3.9% between 2002 and 2004, indicating a period of consistent economic recovery and expansion.

Lowest Growth in the Early 1990s and 2000s

The lowest growth rates outside of recession years were recorded in 1991 and 2001, with -0.1% and 1.0% respectively, marking periods of economic stagnation.

Decade Comparison: 1990s vs. 2000s

The 1990s were characterized by higher growth rates, culminating in the late '90s economic boom, whereas the 2000s experienced more variability, including the early 2000s recession and a gradual recovery thereafter.

21st Century Economic Trends

Since 2000, the U.S. economy has faced significant fluctuations, including two major recessions, with recovery periods marked by varying growth rates, reflecting the dynamic nature of modern economic cycles.

Recent Economic Performance

The most recent data from 2022 shows a growth rate of 2.1%, indicating a slowdown compared to the recovery peak in 2021 but still maintaining a positive trajectory.