United States GDP Growth Rate  1947-2017 | Data | Chart | Calendar

The US economy expanded an annualized 3 percent in the second quarter of 2017, well above a preliminary reading of 2.6 percent and beating market expectations of 2.7 percent. It is the strongest growth rate since the first three months of 2015, the second estimate from the BEA showed. Increases in personal consumption expenditures (PCE) and in nonresidential fixed investment were larger than previously estimated. These increases were partly offset by a larger decrease in state and local government spending. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2017, reaching an all time high of 16.90 percent in the first quarter of 1950 and a record low of -10 percent in the first quarter of 1958.

United States GDP Growth Rate
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US GDP Growth Revised Sharply Higher in Q2


The US economy expanded an annualized 3 percent in the second quarter of 2017, well above a preliminary reading of 2.6 percent and beating market expectations of 2.7 percent. It is the strongest growth rate since the first three months of 2015, the second estimate from the BEA showed. Increases in consumer spending and in nonresidential fixed investment were larger than previously estimated, offsetting a drag from government expenditure and investment.

Personal consumption expenditure (PCE) contributed 2.28 percentage points to growth (1.93 percent in the advance estimate) and rose 3.3 percent (2.8 percent in the advance estimate). Spending went up more than anticipated for durable goods (8.9 percent from 6.3 percent in the advance estimate), nondurable goods (4.3 percent from 3.8 percent) and services (2.1 percent from 1.9 percent). 

Fixed investment added 0.58 percentage points to growth (0.36 percentage points in the advance estimate) and increased 3.6 percent, compared to a 2.2 percent expansion in the advance estimate. Investment slowed less than initially estimated for structures (6.2 percent compared to 4.9 percent in the advance estimate) and intellectual property products (4.9 percent compared to 1.4 percent) and rose faster for equipment (8.8 percent compared to 8.2 percent). Also, residential investment shrank slightly less (-6.5 percent compared to -6.8 percent in the previous quarter). 

Private inventories added 0.02 percentage points to growth, compared to a 0.02 percent drag in the advance estimate. 

Meanwhile, exports went up at a slower 3.7 percent (4.1 percent in the advance estimate) and imports rose 1.6 percent, below 2.1 percent in the advance estimate. The impact from trade was 0.21 percent, higher than 0.18 percent in the advance estimate. 

Government spending and investment subtracted 0.05 percentage points from growth, compared to a 0.12 percentage point gain in the previous estimate. It fell 0.3 percent compared to an initial estimate of a 0.7 percent gain. 

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
8/30/2017 1:07:41 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-06-29 12:30 PM GDP Growth Rate QoQ Final 1.4% 2.1% 1.2% 1.3%
2017-07-28 12:30 PM GDP Growth Rate QoQ Adv 2.6% 1.2% 2.6% 2.6%
2017-08-30 12:30 PM GDP Growth Rate QoQ 2nd Est 3% 1.2% 2.7% 2.6%
2017-09-28 12:30 PM GDP Growth Rate QoQ Final 1.2% 3% 3%
2017-10-27 12:30 PM GDP Growth Rate QoQ Adv 2.0%
2017-11-29 01:30 PM GDP Growth Rate QoQ 2nd Est 2.0%


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.00 1.20 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.20 2.00 13.40 -4.10 percent [+]
GDP 18569.10 18036.65 18569.10 543.30 USD Billion [+]
GDP Constant Prices 17030.00 16903.20 17030.00 2084.60 USD Billion [+]
Gross National Product 17199.40 17081.00 17199.40 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2901.00 2875.70 2901.00 1215.60 USD Billion [+]
GDP per capita 52194.90 51722.10 52194.90 17036.90 USD [+]
GDP per capita PPP 53272.50 52790.00 53272.50 36543.08 USD [+]
GDP From Agriculture 149.50 152.50 235.10 123.30 USD Billion [+]
GDP From Construction 810.40 798.10 810.40 528.70 USD Billion [+]
GDP From Manufacturing 2208.50 2193.70 2208.50 1679.40 USD Billion [+]
GDP From Mining 327.00 293.30 476.10 197.60 USD Billion [+]
GDP From Public Administration 2439.40 2415.30 2439.40 1705.00 USD Billion [+]
GDP From Services 13092.20 13016.50 13092.20 8469.60 USD Billion [+]
GDP From Transport 574.50 572.10 574.50 357.50 USD Billion [+]
GDP From Utilities 288.00 292.50 296.60 193.00 USD Billion [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.00 1.20 16.90 -10.00 1947 - 2017 percent Quarterly




gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.00 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Canada 1.10 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17
Russia -0.57 Sep/15