The US economy in five graphs Americans have reined in spending amid the cuts, which the IMF said were "excessively rapid." Total US govt debt US government debt has more than doubled over the past decade to $16 trillion (£10.5 trillion) and is currently growing at a rate of $2bn per day. America's debt to GDP ratio has also ballooned, and is now above 100pc of GDP. US unemployment rate The number of jobless Americans has fallen steadily over the past few years, although some economists have argued that it is not fast enough to change the overall unemployment picture. The Federal Reserve launched a $85bn-a-month quantitative easing programme at the end of 2012 in an aim to push the unemployment rate below 6.5pc. House prices House prices have had a bumpy ride in recent years, following the collapse of the sub-prime mortgage market and subsequent global recession. However, data compiled by S&P/Case-Shiller for May showed the both its 10 and 20-city composites posted the biggest year-on-year gains since March 2006. Economists expect house price growth to slow in the second half of the year. US retail sales Consumer spending powers about 70pc of the US economy, meaning monthly retail sales figures are closely watched. If retail sales growth declines or slows down, this means consumers are not spending at previous levels, and the data could could signal a recession. However, although the data are extremely timely, as the chart shows, they are also often very volatile from month to month, which makes trend-spotting difficult. This is the case even when auto sales, which are considered especially volatile, are stripped out.