The US economy grew by an annualized 6.4 percent in the first quarter, following a 4.3 percent expansion in the previous three-month period and slightly beating market expectations of 6.1 percent, the advance estimate showed. Activity and demand consolidated their recovery from last year's steep contraction, helped by reopening efforts amid an acceleration in the pace of COVID-19 vaccinations and continued government response related to the pandemic. Increases in personal consumption expenditures (PCE), nonresidential fixed investment, federal government spending, residential fixed investment, and state and local government spending were partly offset by decreases in private inventory investment and exports. 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 33.40 percent in the third quarter of 2020 and a record low of -31.40 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 May of 2021.

GDP Growth Rate in the United States is expected to be 12.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in the United States to stand at 1.70 in 12 months time. 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

Actual Previous Highest Lowest Dates Unit Frequency
6.40 4.30 33.40 -31.40 1947 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-28 01:30 PM QoQ Adv Q4 4% 33.4% 4% 4.2%
2021-02-25 01:30 PM QoQ 2nd Est Q4 4.1% 33.4% 4.2% 4.1%
2021-03-25 12:30 PM QoQ Final Q4 4.3% 33.4% 4.1% 4.1%
2021-04-29 12:30 PM QoQ Adv Q1 6.4% 4.3% 6.1% 6.3%
2021-05-27 12:30 PM QoQ 2nd Est Q1 4.3% 6.5% 6.4%
2021-06-24 12:30 PM QoQ Final Q1
2021-07-29 12:30 PM QoQ Adv Q2 12.9%
2021-08-26 12:30 PM QoQ 2nd Est Q2


News Stream
US Q1 GDP Growth Beats Forecasts
The US economy grew by an annualized 6.4 percent in the first quarter, following a 4.3 percent expansion in the previous three-month period and slightly beating market expectations of 6.1 percent, the advance estimate showed. Activity and demand consolidated their recovery from last year's steep contraction, helped by reopening efforts amid an acceleration in the pace of COVID-19 vaccinations and continued government response related to the pandemic. Increases in personal consumption expenditures (PCE), nonresidential fixed investment, federal government spending, residential fixed investment, and state and local government spending were partly offset by decreases in private inventory investment and exports.
2021-04-29
US President Unveils New Infrastructure Plan
US President Joe Biden announced a $2.25 trillion infrastructure plan over an eight-year period including $621 billion for transportation, $580 billion for manufacturing and $400 billion to care for elderly and disabled. To pay for the plan, Biden proposed to raise the corporate income tax to 28% from 21% and increase taxes on companies’ foreign earnings. However, the package will likely face strong GOP opposition, specially over tax hikes. The second part of the stimulus plan dealing with healthcare and childcare is expected in a couple of weeks.
2021-03-31
US GDP Growth Revised Higher to 4.3%
The US economy expanded an annualized 4.3% on quarter in Q4 2020, higher than 4.1% in the second estimate, mainly due to an upward revision to private inventory investment that was partly offset by a downward revision to nonresidential fixed investment. Still, the expansion was slower compared to a record 33.4% growth in Q3 as the continued rise in COVID-19 cases and restrictions on activity moderated consumer spending. Considering full 2020, the GDP shrank 3.5%, the most since 1946 and following a 2.2% growth in 2019. The outlook for 2021 seems brighter than a few months ago as the vaccination campaign continues, the $1.9 trillion aid bill was approved and Americans already started receiving stimulus checks.
2021-03-25
US GDP Growth Revised Slightly Higher to 4.1%
The US economy expanded an annualized 4.1% in Q4 2020, slightly higher than the advance estimate of a 4% growth, the second estimate showed. Upward revisions to residential fixed investment, private inventory investment, and state and local government spending were partly offset by a downward revision to personal consumption expenditures. Figures compare with market forecasts of 4.2%. Still, the economy slowed from a record 33.4% expansion in Q3 as the continued rise in COVID-19 cases and restrictions on activity moderated consumer spending. Considering full 2020, the American GDP contracted 3.5%, the same as in the advance estimate and the worst performance since 1946. The outlook for 2021 seems brighter than it was some months ago as vaccination rollout began although at a slower than expected pace and as the new Biden administration unveiled a $1.9 trillion stimulus plan. However, the package hasn't been approved yet and current unemployment insurance benefits expire on March 14th.
2021-02-25

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.