United States GDP Growth Rate  1947-2018 | Data | Chart | Calendar

The US economy expanded an annualized 2 percent on quarter in the first quarter of 2018, below 2.2 percent in the second estimate and market expectations of 2.2 percent. Private inventory investment and personal consumption expenditures (PCE) were revised down, the final estimate showed. GDP Growth Rate in the United States averaged 3.21 percent from 1947 until 2018, 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 Lower to 2%


The US economy expanded an annualized 2 percent on quarter in the first quarter of 2018, below 2.2 percent in the second estimate and market expectations of 2.2 percent. It is the lowest growth rate in a year as business inventories and personal consumption were revised down, the final estimate showed.

Personal consumption expenditure (PCE) contributed 0.6 percentage points to growth (0.71 percentage points in the second estimate) and rose 0.9 percent (1 percent in the second estimate). Services (1.5 percent compared to 1.8 percent) slowed more than anticipated while nondurables (0.5 percent compared to 0.4 percent) rose faster and spending on durable goods shrank less (-2.1 percent compared to -2.6 percent). 

Fixed investment added 1.23 percentage points to growth (1.05 percentage points in the second estimate) and increased 7.6 percent (6.5 percent in the second estimate). Investment rose faster than anticipated for equipment (5.8 percent compared to 5.5 percent), structures (16.2 percent compared to 14.2 percent) and intellectual property products (13.2 percent compared to 10.9 percent) but contracted 1.1 percent for residential (compared to a 2 percent fall in the second estimate).

The contribution from private inventories was basically null (-0.01 percent), compared to +0.13 in the final estimate. 

Meanwhile, exports (3.6 percent compared to 4.2 percent) rose less than predicted while imports (3.2 percent compared to 2. 8 percent) increased more. As a result, the impact from trade was -0.04 percent, much worse than +0.08 percent in the second estimate.

Government spending and investment added 0.22 percentage points to growth, slightly higher than 0.2 percentage points in the second estimate. It increased 1.3 percent, above 1.1 percent earlier reported. 


BEA | Joana Taborda | joana.taborda@tradingeconomics.com
6/28/2018 12:47:41 PM


Recent Releases

US GDP Growth Revised Lower to 2.2% in Q1
The US economy expanded an annualized 2.2 percent on quarter in the first quarter of 2018, below 2.3 percent in the advance estimate and market expectations of 2.3 percent. Consumer spending, inventories and exports rose less than expected while business spending in equipment, structures and intellectual property was revised higher, the second estimate showed.
Published on 2018-05-30

US GDP Growth Beats Forecasts in Q1
The US economy expanded an annualized 2.3 percent on quarter in the first quarter of 2018, below 2.9 percent in the previous period but beating market expectations of 2 percent. Still, it is the lowest growth rate in a year, the advance estimate showed. Personal consumption eased amid lower spending on cars, clothing and footwear and residential investment stalled.
Published on 2018-04-27

US GDP Growth Revised Higher to 2.9% in Q4
The US economy expanded an annualized 2.9 percent on quarter in the last three months of 2017, higher than 2.5 percent in the second estimate and beating market expectations of 2.7 percent. Personal consumption expenditures and private inventory investment were revised up.
Published on 2018-03-28

US GDP Growth Revised Slightly Down to 2.5%
The US economy advanced an annualized 2.5 percent on quarter in the last three months of 2017, below an advance reading of 2.6 percent and 3.2 percent in the previous period. Figures came in line with market expectations. Imports rose more than exports and at the fastest pace since Q3 2010, bringing the net trade contribution to negative. Also, private inventory investment fell more than initially expected. On the other hand, personal spending remained robust and fixed investment growth was revised higher.
Published on 2018-02-28



Calendar GMT Actual Previous Consensus TEForecast
2018-04-27 12:30 PM GDP Growth Rate QoQ Adv 2.3% 2.9% 2% 2.2%
2018-05-30 12:30 PM GDP Growth Rate QoQ 2nd Est 2.2% 2.9% 2.3% 2.3%
2018-06-28 12:30 PM GDP Growth Rate QoQ Final 2% 2.9% 2.2% 2.2%
2018-07-27 12:30 PM GDP Growth Rate QoQ Adv 2% 4% 3%
2018-08-29 12:30 PM GDP Growth Rate QoQ 2nd Est
2018-09-27 12:30 PM GDP Growth Rate QoQ Final


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.00 2.90 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.80 2.60 13.40 -4.10 percent [+]
GDP 19390.60 18624.48 19390.60 543.30 USD Billion [+]
GDP Constant Prices 17371.85 17286.50 17371.85 2084.56 USD Billion [+]
Gross National Product 17551.88 17469.21 17551.88 2098.40 USD Billion [+]
Gross Fixed Capital Formation 3028.87 2973.72 3028.87 1215.60 USD Billion [+]
GDP per capita 53128.54 52319.20 53128.54 17036.90 USD [+]
GDP per capita PPP 54225.45 53399.40 54225.45 36543.08 USD [+]
GDP From Agriculture 151.70 152.30 171.40 108.80 USD Billion [+]
GDP From Construction 660.50 647.30 782.90 537.30 USD Billion [+]
GDP From Manufacturing 1983.60 1958.20 1983.60 1693.50 USD Billion [+]
GDP From Mining 387.40 378.20 414.30 203.70 USD Billion [+]
GDP From Public Administration 2086.70 2086.40 2086.70 1981.00 USD Billion [+]
GDP From Services 11731.40 11666.10 11731.40 9331.20 USD Billion [+]
GDP From Transport 478.20 471.90 478.20 386.90 USD Billion [+]
GDP From Utilities 283.40 277.50 291.00 239.60 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.90 16.90 -10.00 1947 - 2018 percent Quarterly




GDP growth rate by Country
Country Last
Turkey 2.00 Mar/18
United States 2.00 Mar/18
India 1.90 Mar/18
China 1.80 Jun/18
Mexico 1.10 Mar/18
Australia 1.00 Mar/18
South Korea 1.00 Mar/18
Russia 0.85 Mar/18
Spain 0.70 Mar/18
Netherlands 0.60 Mar/18
Switzerland 0.60 Mar/18
Brazil 0.40 Mar/18
Euro Area 0.40 Mar/18
Canada 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
France 0.20 Mar/18
United Kingdom 0.20 Mar/18
Japan -0.20 Mar/18
Indonesia -0.42 Mar/18


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