U.S. Commerce Secretary Howard Lutnick said on Sunday he would strip out government spending from the gross domestic product (GDP) report, but gave no indication how soon this change might happen, while dismissing fears of a possible recession.

Government spending makes up 6% of total gross domestic product. And besides, spending cuts come with economic ripple effects.

A new analysis shows that the top 10% of earners are behind almost half of all consumer spending, which is almost 70% of GDP.

Commerce Secretary Howard Lutnick says he could take government spending out of his agency's reports on gross domestic product

The Commerce Department in its most recent GDP report, showed that the economy grew at an annual rate of 2.3% in the final three months of 2024