United States and Global Macroeconomic Projections from 2024 to 2034

Wendy Zeng, William Johnson and Lorin Rudin-Rush

No 359098, Economic Brief from United States Department of Agriculture, Economic Research Service

Abstract: The U.S. Department of Agriculture (USDA), Economic Research Service (ERS) International Macroeconomic Data Set provides historical and 10-year projected macroeconomic variables for 181 countries, as well as regional and income groupings, which account for around 99 percent of the world economy, measured in Gross Domestic Product (GDP). The main macroeconomic variables include the real Gross Domestic Product (real GDP), Consumer Price Index (CPI), exchange rates, and population. These indicators are the benchmark for the 2024 annual USDA Baseline agricultural supply and demand projections, providing a 10-year outlook on U.S. and global agricultural variables. These projections also relay information on the overall health of international economies in the near future to the USDA and its stakeholders, which include a variety of policymakers and market participants. These projections were based on available data and expectations as of August 2024, and were published in November 2024. This report details the macroeconomic projections from 2024 to 2034. To help users interpret the projection numbers, this report also provides the state of the global economy and an analysis of the influence of events over 2024 in various regions and countries. This report provides the documentation for the fundamental macroeconomic assumptions and analysis to support the 2024 edition of the USDA’s Baseline analysis (USDA, 2025). This report does not account for changes in the macroeconomic assumptions and analysis since August 2024.

Keywords: Demand and Price Analysis; Financial Economics; International Relations/Trade; Political Economy; Research Methods/Statistical Methods; Supply Chain (search for similar items in EconPapers)
Pages: 21
Date: 2025-06
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerseb:359098

DOI: 10.22004/ag.econ.359098

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