The US economy expanded an annualized 2.1% on quarter in Q3 2021, slightly higher than 2% in the advance estimate, but below forecasts of 2.2%. Personal consumption increased more than initially expected (1.7% vs 1.6% in the advance estimate), mainly boosted by international travel, transportation services, and healthcare while spending on motor vehicles and parts declined. Private inventories added 2.13 percentage points to the growth (vs 2.07 percentage points in the advance estimate), led by wholesale trade (namely nondurable goods industries) and retail trade (namely motor vehicles and parts dealers). On the other hand, nonresidential investment rose less than in the advance estimate (1.5% vs 1.8%) and residential one shrank faster (-8.3% vs -7.7%). Meanwhile, net exports subtracted 1.16 percentage points from the growth (vs -1.14 percentage points in the advance estimate) as exports declined 3% (vs -2.5%) and imports surged 5.8% (vs 6.1%). source: U.S. Bureau of Economic Analysis

GDP Growth Rate in the United States averaged 3.18 percent from 1947 until 2021, reaching an all time high of 33.80 percent in the third quarter of 2020 and a record low of -31.20 percent in the second quarter of 2020. This page provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

GDP Growth Rate in the United States is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States GDP Growth Rate is projected to trend around 1.70 percent in 2022 and 1.90 percent in 2023, according to our econometric models.

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United States GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-28 12:30 PM QoQ Adv Q3 2% 6.7% 2.7% 2.7%
2021-11-24 01:30 PM QoQ 2nd Est Q3 2.1% 6.7% 2.2% 1.9%
2021-12-22 01:30 PM QoQ Final Q3 6.7% 2.1% 2.1%


Related Last Unit Reference
GDP Growth Rate 2.10 percent Sep/21
GDP Annual Growth Rate 4.90 percent Sep/21
Government Spending 3381.31 USD Billion Sep/21
GDP Constant Prices 19469.40 USD Billion Sep/21
Gross National Product 19681.51 USD Billion Sep/21
Gross Fixed Capital Formation 3582.93 USD Billion Sep/21
Changes in Inventories -73.15 USD Billion Sep/21
Real Consumer Spending 1.70 percent Sep/21
GDP Sales QoQ 0.00 percent Sep/21
GDP From Utilities 290.20 USD Billion Jun/21
GDP From Transport 490.70 USD Billion Jun/21
GDP From Services 13379.10 USD Billion Jun/21
GDP From Public Administration 2218.30 USD Billion Jun/21
GDP From Mining 416.50 USD Billion Jun/21
GDP From Manufacturing 2329.20 USD Billion Jun/21
GDP From Construction 690.70 USD Billion Jun/21
GDP From Agriculture 243.00 USD Billion Jun/21

News Stream
US GDP Growth Revised Slightly Higher to 2.1%
The US economy expanded an annualized 2.1% on quarter in Q3 2021, slightly higher than 2% in the advance estimate, but below forecasts of 2.2%. Personal consumption increased more than initially expected (1.7% vs 1.6% in the advance estimate), mainly boosted by international travel, transportation services, and healthcare while spending on motor vehicles and parts declined. Private inventories added 2.13 percentage points to the growth (vs 2.07 percentage points in the advance estimate), led by wholesale trade (namely nondurable goods industries) and retail trade (namely motor vehicles and parts dealers). On the other hand, nonresidential investment rose less than in the advance estimate (1.5% vs 1.8%) and residential one shrank faster (-8.3% vs -7.7%). Meanwhile, net exports subtracted 1.16 percentage points from the growth (vs -1.14 percentage points in the advance estimate) as exports declined 3% (vs -2.5%) and imports surged 5.8% (vs 6.1%).
2021-11-24
US GDP Growth Disappoints at 2%
The American economy expanded an annualized 2% on quarter in Q3 2021, well below market forecasts of 2.7% and slowing sharply from 6.7% in Q2. It is the weakest growth of pandemic recovery as an infusion of government stimulus continued to fade and a surge in COVID-19 cases and global supply constraints weighted on consumption and production. Personal consumption eased sharply (1.6% vs 12% in Q2) as spending on goods decreased (led by motor vehicles and parts) and services decelerated (led by food services and accommodations). Also, nonresidential investment rose much less (1.8% vs 9.2%) and residential one continued to shrink (- 7.7% vs -11.7%). Meanwhile, net exports subtracted 1.14 percentage points from the growth as exports declined 2.5% (vs +7.6%) and imports surged 6.1% (vs 7.1%). Private inventories however added 2.07 percentage points to the growth.
2021-10-28
US GDP Growth Likely Slowed to 2.7%
The American economy likely expanded an annualized 2.7% on quarter in Q3 2021, which would be the slowest pace since a record 31.2% contraction in Q2 2020, although a separate tracker from the Atlanta Fed suggests growth could be even lower at 0.2%. The spread of the coronavirus delta variant, global supply constraints, materials and labour shortages and soaring prices likely weighed on both production and consumption. Household spending is seen stalling due to autos and travel, inventory is seen weak due to goods shortages, exports fell and residential fixed investment may also have dragged down on the growth amid tight inventory levels and record surges in prices. Still, the economic slowdown is expected to be short-lived and the US GDP will likely accelerate in Q4 and next year. The Fed sees GDP growth at 5.9% in 2021 and 3.8% in 2022.
2021-10-28

United States GDP Growth Rate
On the expenditure side, personal consumption expenditures accounts for 68 percent of total GDP out of which purchases of goods constitute 23 percent and services 45 percent. Private investment accounts for 16 percent of GDP and government consumption and investment for 18 percent. As the value of goods exported (13.5 percent) is lower than the value of goods imported (16.5 percent), net exports subtracts 3 percent from the total GDP value.