US Economy Outstripped China in 2024 for Third Year in a Row

The US tightened its grip on the title of world’s biggest economy in 2024 as an irrepressible American consumer helped it pull away from China for a third straight year — at least by one measure.

US gross domestic product increased 5.3% last year before adjusting for inflation, according to Bureau of Economic Analysis data released Thursday. In comparison, China’s nominal GDP growth clocked in at 4.2%, the country’s National Bureau of Statistics reported two weeks ago.