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Monthly Report • Released 9:30 AM on the 3rd Wednesday of each month
Current Economic Events
- Though the government shutdown ended on November 12, several indicators from public sources have not yet been updated since the shutdown began.
- Despite the president’s implementation of both unilateral and reciprocal tariffs, our trade deficits with other countries have notably increased, with China as the only notable exception.
- Though exports from China to the US have fallen sharply over the course of this year, Chinese exports to areas of the world known for transshipment routes to the US have increased, which could allow for Chinese goods to avoid US tariffs.
- The US goods trade deficit so far this year totals to $806 billion, a $145 billion increase over the $661 billion deficit across the same period last year. If this increased deficit trend continues, we’d expect the annual trade deficit to be nearly $1.38 trillion.
- Over the past 15 years, the age of the median US homebuyer has gone up by 20 years, going from 39 years old in 2010 to 59 years old in 2025.
- Stocks in companies producing nonessential and luxury products have been outperforming stocks in companies producing more essential personal and household products, showing the higher strength of higher-income households relative to lower-income ones currently.
- Q2 of 2025 has seen one of the largest investments in capital goods by US manufacturers in recent history, reaching $122 billion in new orders, showing a strong indication of increases to production and employment in the sector.
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HOUSEHOLD FINANCES
This section tracks American household financial health through wages, income, and major expenses. Data includes compensation by industry, income by education level, household expense trends, and wage growth comparisons between the U.S. and China.
Average Annual Earnings & Benefits by Selected Industries (July 2025)
| Industry | Average Annual Wages | Estimated Annual Benefits | Total Annual Earnings |
|---|
| Manufacturing Jobs | | | | | Transport Manufacturers | $79,818 | $21,629 | $101,448 | | Chemical Manufacturing | $69,648 | $21,578 | $91,226 | | Primary Metal Manufacturing | $66,506 | $22,503 | $89,009 | | Machinery Manufacturing | $65,208 | $21,013 | $86,220 | | Service Jobs | | | | | Accommodation | $33,352 | $2,789 | $36,141 | | Gas Station Employees | $29,306 | $2,747 | $32,053 | | Food & Drink Cashiers | $27,374 | $4,297 | $31,671 | | Food Services | $23,886 | $2,141 | $26,027 |
Source: Bureau of Labor Statistics Frequency: Monthly Last updated: Nov 03, 2025 Next updated: Dec 03, 2025
This comparison highlights the differences in pay and benefits between manufacturing jobs and service-sector jobs. Manufacturing positions provide higher wages and stronger benefits, which support middle-class stability and are why growing the manufacturing sector is vital for raising living standards.
Average U.S. Income by Education Attainment
| Year |
High School Degree or Less |
Trade/Technical School |
Bachelor’s Degree Only |
| 2024 |
$50,770 |
$61,480 |
$93,020 |
| 2023 |
$47,330 |
$59,590 |
$87,710 |
| 2022 |
$45,770 |
$58,220 |
$85,750 |
| 2021 |
$43,015 |
$52,700 |
$81,230 |
| 2020 |
$39,465 |
$43,015 |
$74,013 |
Sources: Economic Policy Institute, Census Bureau Frequency: Annual Last Update: September 2025 Next Update: September 2026
This indicator tracks how much workers earn depending on their education. Workers with only a high school diploma earn significantly less than those with a bachelor’s degree or degree from a technical college. The widening earnings gap shows how difficult it has become to achieve or maintain a middle-class lifestyle without the pursuit of higher education or technical training.
Change in Household Income and Major Expenses
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Average Household Income by Percentile |
Household Expenses |
| Year |
Top 5% |
Next 15% |
Middle 60% |
Bottom 20% |
Average Healthcare |
Average Tuition and Fees |
Median Housing Values |
| 1970 |
33,280 |
17,813 |
8,778 |
1,992 |
1,168 |
645 |
23,475 |
| 2023 |
526,200 |
221,000 |
85,907 |
17,650 |
37,120 |
14,688 |
426,525 |
| % Change |
1,481% |
1,141% |
879% |
786% |
3,078% |
2,177% |
1,717% |
Sources: US Census Bureau, Minneapolis Fed, Center for Medicaid, FRED, National Center for Education Statistics Frequency: Annual Last Update: September 2024 Next Update: December 2025
This table compares the growth in incomes of households across different income levels with the rising costs of essentials like healthcare, tuition, and housing. While top earners have seen their incomes soar, middle-class wages have not kept pace with major expenses, showing why many families feel squeezed even as the economy grows.
Average Annual Wage Increases for 2010 – 2024: U.S. vs China
| Country |
Total |
Worker’s Raises Per Year |
| China |
239.7% |
9.13% |
| U.S. |
58.2% |
3.32% |
Sources: OECD, Trading Economics, StatistaFrequency: Annual Last Update: September 2025 Next Update: September 2026
This comparison tracks how much wages have grown in the U.S. and China since 2010. China’s rapid increases highlight its rising economic strength and competitiveness, while slower U.S. wage growth signals challenges for American workers trying to keep up with global competition.
MANUFACTURING
Manufacturing data covering employment trends, vehicle production by country and type, and production of critical goods including pharmaceuticals, semiconductors, and industrial equipment.
Total Manufacturing Employees and Their Percentage of All Jobs
| Year | Manufacturing Jobs (Millions) | Percent Manufacturing of All Jobs | U.S. Population (Millions) |
|---|
| 1960 | 15.0 | 27.9% | 176 | | 1980 | 18.6 | 20.5% | 223 | | 2000 | 17.1 | 13.0% | 282 | | 2020 | 12.2 | 8.5% | 333 | | Beginning of 2025 | 12.8 | 8.0% | 341 | | Jul 2025 | 12.7 | 8.0% | 342 | | Aug 2025 | 12.7 | 8.0% | 342 |
Source: Bureau of Labor Statistics (Manufacturing, Non-farm) Frequency: Monthly Last updated: Nov 05, 2025 Next updated: Dec 05, 2025
This indicator shows how many Americans work in manufacturing and what share of the overall workforce they represent. Even as the U.S. population has grown, the percentage in manufacturing has steadily declined. This decline matters because manufacturing jobs have historically provided good wages, skills, and economic mobility.
Goods Sector Employment: Manufacturing, Construction, Mining
| Year | Millions of Jobs | % of All Jobs |
|---|
| 1960 |
19.1 |
35.2% |
| 1980 |
24.2 |
26.7% |
| 2000 |
24.6 |
18.6% |
| 2020 |
20.0 |
14.1% |
| Beginning of 2025 |
21.6 |
13.6% |
| Jul 2025 |
21.6 |
13.5% |
| Aug 2025 |
21.6 |
13.5% |
Source: Bureau of Labor Statistics via FRED: Manufacturing, Total Nonfarm, Mining, Quarrying, and Extraction, Construction Frequency: Monthly Last updated: Sep 05, 2025 Next updated: Oct 05, 2025
This measure includes manufacturing, construction, and mining jobs, as well as their share of the total workforce. It shows how many Americans are employed in the production of goods, or physical items. A declining share of goods-producing jobs reflects not only a shift toward a service-based economy, but also the offshoring of U.S. industries, with serious consequences for wages, the trade balance, and long-term economic security.
Total Vehicle Production by Country
| Year |
USA |
China |
Japan |
Germany |
South Korea |
India |
Russia |
| 2024 |
10,562,188 |
31,281,592 |
8,997,440 |
4,069,222 |
4,127,252 |
6,014,691 |
982,665 |
| 2000 |
12,799,857 |
2,069,069 |
10,140,769 |
5,526,615 |
3,114,998 |
801,360 |
1,205,581 |
| 1980 |
8,020,830 |
< 360,000 |
11,058,029 |
3,885,357 |
360,000 |
360,000 |
2,198,301 |
| 1950 |
8,005,010 |
< 3,000 |
31,597 |
306,064 |
3,000 |
14,688 |
362,985 |
Sources: International Organization of Motor Vehicle Manufacturers Frequency: Annual Last Update: April 2025 Next Update: April 2026
This measure tracks how many vehicles each major country produces. It illustrates shifts in global manufacturing power, with China overtaking the U.S. and Japan as the world’s leading car producer. Vehicle production is a cornerstone of industrial strength and a major source of good jobs.
Total Vehicle Production by Type, 2024
| Country |
Cars |
LCV |
HCV |
Buses |
| USA |
1,432,615 |
8,804,413 |
325,160 |
* |
| China |
27,476,886 |
2,029,329 |
1,655,941 |
119,436 |
| Japan |
7,139,188 |
629,124 |
460,130 |
6,239 |
| Germany |
4,069,222 |
281,078 |
88,240 |
5,382 |
| South Korea |
3,849,326 |
219,716 |
49,095 |
9,114 |
| India |
4,991,413 |
641,558 |
319,712 |
62,008 |
| Russia |
753,754 |
125,908 |
86,867 |
16,136 |
Sources: International Organization of Motor Vehicle Manufacturers Frequency: Annual Last Update: April 2025 Next Update: April 2026
Breaking down vehicle output by type (cars, light commercial vehicles or LCVs, heavy commercial vehicles or HCVs, buses) highlights each country’s industrial focus. The U.S. leads in the production of LCVs (include vehicles such as pickup trucks and cargo vans), while China dominates in passenger cars. These trends show that despite the US leading in LCVs, there is an increasing reliance on imports for passenger cars and HCVs, which include vehicles critical to US industries such as dump trucks, cement mixers, and semi-trucks.
Critical Goods Production: Materials in the U.S. and China
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Aluminum (Millions of Tons) |
Steel (Millions of Tons) |
Coal(Millions of Tons) |
| Year |
USA |
China |
USA |
China |
USA |
China |
| 2024 |
0.7 |
43.4 |
81.0 |
1,000.8 |
464.2 |
4,760.0 |
| 2000 |
3.7 |
2.8 |
102.0 |
128.5 |
974.0 |
849.4 |
| 1953 |
1.1 |
0.0 |
101.0 |
1.8 |
441.3 |
70.0 |
Source: U.S. Energy Information Administration, CEICFrequency: Annual Last Update: April 2025 Next Update: April 2026
This table measures output of key industrial materials like aluminum, steel, and coal in millions of metric tons. China’s dominance shows how much U.S. manufacturing capacity has declined, which has raised concerns about economic security and defense readiness.
U.S. TRADE
Comprehensive trade balance data including overall trade deficits and surpluses, trade balances by country and product category, and specific import/export data for tractors, semiconductors, and pharmaceuticals.
Cumulative U.S. Goods Trade Surplus/Deficit (1960 – Jul 2025)
| Date | Trade Surplus/Deficit (Trillions) |
|---|
| 1960 | $0.01 | | 1980 | ($0.09) | | 2000 | ($3.18) | | Beginning of 2025 | ($17.26) | | Jun 2025 | ($22.47) | | Jul 2025 | ($22.58) |
Source: U.S. Census Bureau, Bureau of Economic Analysis Frequency: Monthly Last updated: Sep 09, 2025 Next updated: Oct 09, 2025
The U.S. cumulative trade balance measures the total difference between the value of goods America has sold abroad and the goods it has purchased from other countries since 1960. Because the balance is negative, the U.S. has run persistent trade deficits, meaning it consistently buys more than it sells. Over time, these deficits can weaken domestic industries, deepen reliance on imports, and raise concerns about America’s long-term competitiveness.
Cumulative U.S. Goods Trade Surplus/Deficit by Country (1985 – Jul 2025)
| Country | Goods Trade Surplus/Deficit (Trillions) | Percentage Change |
|---|
| China (Mainland) | ($7.25) | 0.2% | | Japan | ($2.60) | 0.2% | | Mexico | ($2.02) | 0.8% | | Germany | ($1.63) | 0.4% | | Canada | ($1.36) | 0.4% | | Ireland | ($0.94) | 0.3% | | Vietnam | ($0.93) | 1.8% | | Taiwan | ($0.78) | 1.9% | | Italy | ($0.75) | 0.4% | | South Korea | ($0.65) | 0.8% |
Source: U.S. Census Bureau Frequency: Monthly Last updated: Sep 09, 2025 Next updated: Oct 09, 2025
This table shows which countries the U.S. has historically bought more from than it has sold to. Large and growing deficits with nations like China, Mexico, and Germany signal how much American consumers and businesses depend on foreign goods. These imbalances also highlight trade relationships that can affect U.S. jobs, wages, and strength of domestic production.
U.S. Monthly Goods Trade Deficit by Country
| Country | U.S. Goods Trade Deficit for July 2025 (Billions USD) | Percentage Change | Percent of Total Month’s Deficit |
|---|
| China |
-$17.1 |
80.0% |
14.6% |
| Vietnam |
-$16.6 |
0.7% |
14.2% |
| Mexico |
-$16.4 |
-2.4% |
14.0% |
| Taiwan |
-$14.6 |
15.4% |
12.4% |
| Germany |
-$6.3 |
66.9% |
5.4% |
| Canada |
-$6.1 |
362.8% |
5.2% |
| Japan |
-$5.6 |
8.1% |
4.8% |
| South Korea |
-$5.2 |
-10.2% |
4.5% |
| Italy |
-$3.1 |
66.7% |
2.6% |
| Ireland |
-$2.6 |
-51.5% |
2.2% |
| All Other |
-$23.6 |
36.7% |
20.2% |
| Total |
-$117.1 |
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Source: U.S. Census Bureau Frequency: Monthly Last updated: Sep 09, 2025 Next updated: Oct 09, 2025
This monthly snapshot reveals which countries contribute most to America’s trade deficit for a given month. Rising short-term deficits can point to surges in imports or weaknesses in U.S. exports. Tracking this helps us understand changing trade dynamics and where U.S. industries may be losing ground.
Top 5 Largest Trade Deficits by Product, 2024
| Product |
Deficit (Billions of USD) |
| MOTOR CARS AND OTHER MOTOR VEHICLES DESIGNED TO TRANSPORT PEOPLE (OTHER THAN PUBLIC-TRANSPORT TYPE), INCLUDING STATION WAGONS AND RACING CARS (HS8703) |
($157) |
| AUTOMATIC DATA PROCESSING MACHINES AND UNITS THEREOF; MAGNETIC OR OPTICAL READERS, MACHINES FOR TRANSCRIBING AND PROCESSING CODED DATA, NESOI (HS8471) |
($100) |
| EXPORTS OF ARTICLES IMPORTED FOR REPAIRS ETC.; IMPORTS OF ARTICLES EXPORTED AND RETURNED, UNADVANCED; IMPORTS OF ANIMALS EXPORTED AND RETURNED (HS9801) |
($87) |
| TELEPHONE SETS INCL SMARTPHONES AND OTH PHONES FOR CELLULAR NETWORKS/OTHER WIRELESS NETWORKS; OTH APPARATUS FOR THE TRANS/RECEP OF VOICE/IMAGE/DATA (HS8517) |
($75) |
| MEDICAMENTS (EXCEPT VACCINES ETC., BANDAGES OR PHARMACEUTICALS), OF PRODUCTS (MIXED OR NOT) FOR THERAPEUTIC ETC. USES, IN DOSAGE OR RETAIL SALE FORM (HS3004) |
($60) |
Sources: U.S. Census Bureau – International Trade Frequency: Annual Last Update: March 2025 Next Update: March 2026
This measure highlights which products the U.S. imports more than it exports. Large deficits in autos, electronics, and medicines show where U.S. production has fallen behind and where dependence on foreign suppliers is most pronounced.
Top 5 Largest Trade Surpluses by Product, 2024
| Product |
Surplus (Billions of USD) |
| CIVILIAN AIRCRAFT, ENGINES, AND PARTS (HS8800) |
$124 |
| PETROLEUM OILS& OILS FROM BITUMINOUS MINS (OTHER THAN CRUDE)& PRODUCTS THEREFROM, NESOI, CONTAINING 70% (BY WEIGHT) OR MORE OF THESE OILS; WASTE OILS (HS2710) |
$60 |
| LOW VALUE EXPORT SHIPMENTS; CANADIAN ESTIMATED LATE RECEIPTS (HS9880) |
$56 |
| PETROLEUM GASES AND OTHER GASEOUS HYDROCARBONS (HS2711) |
$53 |
| SOYBEANS, WHETHER OR NOT BROKEN (HS1201) |
$24 |
Sources: U.S. Census Bureau – International Trade Frequency: Annual Last Update: March 2025 Next Update: March 2026
This measure shows which products the U.S. exports more than it imports. Surpluses in energy products like petroleum and natural gas, along with agricultural goods such as soybeans and corn, demonstrate America’s continued strengths in these sectors. While these surpluses help offset overall trade imbalances, they are not large enough on their own to counter the nation’s much bigger deficits in manufactured goods.
Top 5 Largest Trade Deficits with China by Product, 2024
| Product |
Deficit (Billions of USD) |
| TELEPHONE SETS INCL SMARTPHONES AND OTH PHONES FOR CELLULAR NETWORKS/OTHER WIRELESS NETWORKS; OTH APPARATUS FOR THE TRANS/RECEP OF VOICE/IMAGE/DATA (HS8517) |
($50) |
| AUTOMATIC DATA PROCESSING MACHINES AND UNITS THEREOF; MAGNETIC OR OPTICAL READERS, MACHINES FOR TRANSCRIBING AND PROCESSING CODED DATA, NESOI (HS8471) |
($35) |
| ELECTRIC STORAGE BATTERIES, INCLUDING SEPARATORS THEREFOR; PARTS THEREOF (HS8507) |
($18) |
| TOYS NESOI; SCALE MODELS ETC.; PUZZLES; PARTS AND ACCESSORIES THEREOF (HS9503) |
($13) |
| PARTS AND ACCESSORIES FOR TRACTORS, PUBLIC-TRANSPORT PASSENGER VEHICLES, MOTOR CARS, GOODS TRANSPORT MOTOR VEHICLES AND SPECIAL PURPOSE MOTOR VEHICLES (HS8708) |
($8) |
Sources: U.S. Census Bureau – International Trade Frequency: Annual Last Update: June 2025 Next Update: June 2026
This table focuses on deficits in U.S.-China trade specifically. It shows how much more the U.S. imports from China in consumer electronics, toys, and car parts than it exports in those same goods. The imbalance shows an increasing reliance on Chinese manufacturing for important consumer and industrial products, reducing U.S. industrial competitiveness and increasing reliance on foreign supply chains.
Top 5 Largest Trade Surpluses with China by Product, 2024
| Product |
Surplus (Billions of USD) |
| SOYBEANS, WHETHER OR NOT BROKEN (HS1201) |
$13 |
| CIVILIAN AIRCRAFT, ENGINES, AND PARTS (HS8800) |
$12 |
| ELECTRONIC INTEGRATED CIRCUITS AND MICROASSEMBLIES; PARTS THEREOF (HS8542) |
$7 |
| PETROLEUM OILS AND OILS FROM BITUMINOUS MINERALS, CRUDE (HS2709) |
$6 |
| HUMAN AND ANIMAL BLOOD, PREPARED; ANTISERA OTHER BLOOD FRCTNS IMMUNOLOGICAL PROD; VACCINES, TXNS, CULTURES OF MICRO-ORGANISMS (EXC YEASTS) & LIKE PROD (HS3002) |
$6 |
Sources: U.S. Census Bureau – International Trade Frequency: Annual Last Update: June 2025 Next Update: June 2026
This table highlights the limited areas where the U.S. runs a trade surplus with China. These are concentrated in agricultural goods like soybeans and a few high-tech products such as microchips and semiconductor-making equipment. These surpluses help reduce the overall imbalance slightly, but they are far too small to offset the much larger deficits in manufactured consumer goods.
Largest Global Importers of Tractors, 2024
| Nation |
Imports |
| United States |
$15,669 |
| Canada |
$5,308 |
| Germany |
$3,460 |
| United Kingdom |
$2,789 |
| Poland |
$2,423 |
Sources: World Integrated Trade Solution Frequency: Annual Last Update: March 2025 Next Update: March 2026
This indicator shows which countries rely most on imported agricultural machinery. The U.S. tops the list, underscoring how its farming sector depends heavily on foreign-made equipment. This reliance can pose risks if global supply chains are disrupted.
Total Exports of Semiconductors, Computer Chips, and Parts Thereof (Millions of USD)
| Year |
China, Mainland |
U.S. |
| 1990 |
$128 |
$11,401 |
| 2000 |
$4,490 |
$45,198 |
| 2010 |
$62,416 |
$31,619 |
| 2020 |
$153,789 |
$27,577 |
| 2024 |
$209,216 |
$30,199 |
Sources: World Integrated Trade Solution Frequency: Annual Last Update: June 2025 Next Update: June 2026
This table compares how much China and the U.S. export in advanced technology products. Chips are the “brains” of modern electronics and critical to both consumer goods and defense systems. China’s dominance underscores U.S. challenges in maintaining leadership in high-tech manufacturing.
U.S. Pharmaceutical and Medicinal Imports by Weight in 2024
| Country |
Total U.S. Pharma Imports (kg) |
Percent of Total U.S. Pharma Imports |
| China |
111,295,368 |
13% |
| India |
136,619,029 |
17% |
| Rest of the World |
580,714,035 |
70% |
Sources: World Integrated Trade Solution Frequency: Annual Last Update: March 2025 Next Update: March 2026
This indicator tracks where America’s imported medicines come from. Heavy dependence on India and China for pharmaceuticals raises concerns about national health security, since disruptions in supply could leave the U.S. vulnerable in a crisis.
U.S. ECONOMY
Macroeconomic indicators including Net International Investment Position (NIIP) per capita, foreign holdings of U.S. Treasury securities, national debt as a percentage of GDP, inflation rates by country, and federal debt per person.
Net Foreign Wealth Per Person (NIIP) by Country
| Country | 2005 | 2010 | 2015 | 2020 | 2024 Q3 |
|---|
| Germany | $4,365 | $10,761 | $18,729 | $34,479 | $44,075 | | Japan | $11,972 | $24,590 | $21,400 | $29,173 | $29,093 | | Canada | ($4,653) | ($8,824) | $8,964 | $23,152 | $34,808 | | South Korea | ($2,906) | ($2,624) | $3,921 | $10,622 | $18,975 | | China | $263 | $1,081 | $1,187 | $1,494 | $2,260 | | Greece | ($16,379) | ($26,978) | ($24,030) | ($32,649) | ($32,563) | | United States | ($6,294) | ($8,115) | ($23,262) | ($42,185) | ($70,145) |
Source: International Investment Position at IMF (International Monetary Fund) Frequency: Quarterly Last updated: Jan 01, 2025 Next updated: Apr 01, 2025 Other Source: Census Bureau (Population)
Net International Investment Position (NIIP) compares how much a nation owns in overseas assets versus how much foreigners own of that nation’s assets. A negative number means a country owes more to the world than it owns abroad. The U.S. is the world’s largest net borrower, resulting in increased reliance on foreign countries to obtain the goods we need, especially during times of crisis.
Major Holders of U.S. Treasury Securities for September 2025
| Country | Holdings (Billions) | Percentage Change |
|---|
| Tax Haven Countries |
$1,491 |
1.4% |
| Japan |
$1,189 |
0.8% |
| United Kingdom |
$865 |
-4.3% |
| China, Mainland |
$700 |
-0.1% |
| Canada |
$476 |
7.2% |
| Belgium |
$467 |
2.8% |
| France |
$376 |
-3.5% |
| Taiwan |
$313 |
-0.3% |
| Singapore |
$260 |
-0.8% |
| Hong Kong |
$238 |
-5.5% |
| Norway |
$216 |
0.5% |
| Total Foreign Holdings |
$9,249 |
-0.1% |
Source: U.S. Treasury Frequency: Monthly Last updated: Nov 20, 2025 Next updated: Dec 20, 2025
This is a list of the foreign countries that hold U.S. government debt. When foreign investors buy U.S. Treasuries, it helps finance federal spending. But heavy reliance on foreign buyers also creates vulnerabilities if those countries reduce their holdings, which could raise borrowing costs.
*Tax haven countries are Luxembourg, Cayman Islands, Ireland, and Switzerland.
National Debt (Public) by Country as % of GDP
| Nation | 1995 | 2000 | 2010 | 2020 | 2025, Q2 |
|---|
| China | — | — | 16.4% | 20.6% | 27.6% | | Germany | — | 38.2% | 52.1% | 44.8% | 43.9% | | United States | 70.4% | 53.4% | 85.0% | 124.7% | 115.0% |
Source: World Bank Frequency: Quarterly Last updated: Oct 01, 2025 Next updated: Jan 01, 2026
This ratio shows how much a country owes compared to the size of its economy. High debt-to-GDP levels mean more national income is tied up in interest payments instead of growth. The U.S. debt burden is significantly higher than many peers, which could limit flexibility in future economic downturns and decrease the funds available to invest in resources like infrastructure or national security.
Inflation Rates (CPI) by Country
| Month | USA | China | Japan | South Korea | Germany |
|---|
| Jul 2025 | 2.7% | 0% | 3.1% | 2.1% | 2% | | Aug 2025 | 2.9% | -0.4% | 2.7% | 2.1% | 2.4% | | Sep 2025 | 3% | -0.3% | 2.9% | 2.1% | 2.4% | | Oct 2025 | – | 0.2% | – | 2.4% | 2.3% |
Source: Trading Economics Frequency: Monthly Last updated: Oct 24, 2025 Next updated: Dec 10, 2025
Inflation tracks how quickly the prices of everyday goods and services rise. Moderate inflation is normal, but high inflation reduces purchasing power, makes it harder for families to afford necessities, and increases costs for businesses. Comparing inflation across countries helps show where the U.S. stands relative to other major nations.
Average Federal Government Debt Per Person in the US Population
| Year | Federal Debt per Capita |
|---|
| 1952 | $1,638 | | 1960 | $1,571 | | 1980 | $3,966 | | 2000 | $19,955 | | 2020 | $83,549 | | Beginning of 2025 | $106,500 | | Jul 2025 | $108,040 | | Aug 2025 | $109,229 |
Source: Debt Held by Public Frequency: Monthly Last updated: Sep 29, 2025 Next updated: Oct 29, 2025 Other Source: CPI: Bureau of Labor Statistics via FRED Population: Bureau of Economic Analysis via FRED
This measure divides total U.S. federal debt by the number of Americans. It shows how much each person would owe if the debt were shared equally. Rising debt per capita raises concerns about government spending, future tax burdens, and the ability to invest in priorities like infrastructure and education.
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