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*Calculating an estimated average from 2021-2025:
To calculate a more accurate average for 2021-2025, we need the 2021 GDP figure, which is $557.3 billion.
Let's make an estimation for 2024 GDP growth. Given the reported slowdown in job growth and leading indicators, and the 2.2% forecast for 2025, a growth rate in the range of 2-4% for 2024 seems reasonable. Let's use 3% as an illustrative estimate for 2024 GDP growth. 2021-2022 growth: 15.87% 2022-2023 growth: 7.94% 2023-2024 growth (estimated): ~3% 2024-2025 growth (forecast): 2.2% To get the average annual growth, you would need to calculate the geometric mean, or simply sum the annual growth rates and divide by the number of years. Given the data available, a simple average of the year-over-year percentages is the most straightforward approach, keeping in mind the 2024 is an estimate. Average GDP growth (estimated) = (15.87% + 7.94% + 3% + 2.2%) / 4 = 29.01% / 4
= 7.25% (estimated average) Important Note: The 2024 figure is an estimation based on qualitative information about economic slowdowns and job growth. Official GDP data for 2024 and 2025 will be released later. Therefore, this average is an approximation.