The chart on the left of this page shows real GDP in dollars over the last 20 years. After the U.S. economy recovered rapidly in 2021 following the pandemic, growth moderated in 2022. Going forward, there is an increased chance of recession as higher rates continue to weigh on the economy. The chart on the right provides a basic breakdown of the most recent quarter's GDP, showing consumption is the largest driver of the U.S. economy.