An interactive look at four key economic indicators across US presidential administrations from Reagan through Trump's second term. Use the buttons to switch between metrics and hover over any bar for exact figures.
The question
A client conversation raised the perception that Trump's first term was marked by strong economic growth and stock market performance, and that his focus on economic policy produced exceptional conditions for American business.
What the data shows
Trump's first term (2017-2020) delivered solid pre-pandemic growth and strong S&P 500 returns in 2017 and 2019. GDP growth and market returns were broadly comparable to Obama's second term, and Clinton's two terms showed stronger sustained performance across all four indicators. The 2020 COVID contraction significantly weighs on the term average.
Economic conditions typically reflect decisions made 1 to 2 years prior. Any president inherits the trajectory set by their predecessor, and external shocks like the 2008 financial crisis and the 2020 pandemic cut across partisan lines and reshape how any term looks in aggregate.
GDP and unemployment figures are from the Bureau of Economic Analysis and Bureau of Labor Statistics. S&P 500 returns include reinvested dividends. Debt figures are gross federal debt at year end.
Data for Trump's second term reflects partial-year figures through early 2025 and will be updated as full-year results become available.