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

The US economy expanded an annualized 1.2 percent on quarter in the first three months of 2017, better than the advance estimate of 0.7 percent growth and beating market expectations of 0.9 percent, figures from the second estimate showed. It is the lowest growth rate in a year, better than the weakest first-quarter growth in three years initially estimated. Consumer spending and nonresidential fixed investment rose faster than anticipated and the drag from public spending and investment was lower than initially estimated. In contrast, private inventories decreased more. 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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Calendar GMT Actual Previous Consensus Forecast (i)
2017-03-30 12:30 PM Q4 2.1% 3.5% 2% 2%
2017-04-28 12:30 PM Q1 0.7% 2.1% 1.1% 1.3%
2017-05-26 12:30 PM Q1 1.2% 2.1% 0.9% 0.8%
2017-06-29 12:30 PM Q1 2.1% 1.2% 1.3%
2017-07-28 12:30 PM Q2 2.1%
2017-08-30 12:30 PM Q2 2.1%




US GDP Growth Revised Up to 1.2% In Q1


The US economy expanded an annualized 1.2 percent on quarter in the first three months of 2017, better than the advance estimate of 0.7 percent growth and beating market expectations of 0.9 percent, figures from the second estimate showed. It is the lowest growth rate in a year, better than the weakest first-quarter growth in three years initially estimated. Consumer spending and nonresidential fixed investment rose faster than anticipated and the drag from public spending and investment was lower than initially estimated. In contrast, private inventories decreased more.

Personal consumption expenditure (PCE) contributed 0.44 percentage points to growth (0.23 percent in the previous estimate) and rose 0.6 percent (0.3 percent in the previous estimate). Spending increased more than anticipated for services (0.8 percent from 0.4 percent in the previous estimate) and fell less for durable goods (-1.4 percent from -2.5 percent) while it rose less for nondurable goods (1.2 percent from 1.5 percent).

Fixed investment added 1.85 percentage points to growth (0.69 percentage points in the earlier estimate) and increased 11.9 percent, compared to a 4.3 percent expansion in the previous release. Investment rose more for housing (13.8 percent from 13.7 percent), structures (28.4 percent from 22.1 percent) and intellectual property products (6.7 percent from 2 percent) but eased for equipment (7.2 percent from 9.1 percent). 

Private inventories subtracted 1.07 percentage points from growth, more than 0.93 percent points in the first estimate. 

Meanwhile, exports went up 5.8 percent, unchanged form preliminary figures and imports rose at a slower 3.8 percent (4.1 percent), bringing the impact from trade higher to 0.13 percent (0.07 percent).

Government spending and investment subtrated 0.2 percentage points from growth (-0.3 percent in the previous release) and shrank 1.1 percent (-1.7 percent in the preliminary estimate).

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
5/26/2017 1:03:30 PM


Recent Releases

US Q1 GDP Growth Weakest Since 2014
The US economy grew an annualized 0.7 percent on quarter in the first quarter of 2017, following a 2.1 percent expansion in the previous period and below expectations of 1.1 percent, an advance estimate showed. The deceleration in real GDP in the first quarter reflected a deceleration in PCE and downturns in private inventory investment and in state and local government spending that were partly offset by an upturn in exports and accelerations in both nonresidential and residential fixed investment.
Published on 2017-04-28

US GDP Growth Revised Up To 2.1% In Q4
The US economy advanced an annualized 2.1 percent on quarter in the fourth quarter of 2016, higher than 1.9 percent in the previous estimates, final figures showed. Consumer spending and inventories increased faster than anticipated while investment rose less and net trade subtracted more from growth. In 2016, the GDP expanded 1.6 percent, the lowest since 2011.
Published on 2017-03-30

US GDP Growth Confirmed At 1.9% In Q4
The US economy advanced an annualized 1.9 percent on quarter in the last three months of 2016, slowing from a 3.5 percent growth in the previous period and matching earlier estimates. Consumer spending rose faster than anticipated while business investment was revised lower. In 2016, the GDP expanded 1.6%, the lowest since 2011.
Published on 2017-02-28

US GDP Growth Slows to 1.9% in Q4
The US economy advanced an annualized 1.9% on quarter in Q4, below expectations of 2.2%. Exports slumped reversing the impact from the surge in soybean shipments in Q3 and consumer spending slowed while investment jumped, boosted by equipment and home building. In 2016, the GDP expanded 1.6%, the lowest since 2011.
Published on 2017-01-27



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.20 2.10 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.00 2.00 13.40 -4.10 percent [+]
GDP 18036.65 17393.10 18036.65 543.30 USD Billion [+]
GDP Constant Prices 16861.60 16813.30 16861.60 2084.60 USD Billion [+]
Gross National Product 17059.40 17017.60 17059.40 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2879.00 2798.90 2879.00 1215.60 USD Billion [+]
GDP per capita 51638.10 50727.80 51638.10 17036.90 USD [+]
GDP per capita PPP 52704.20 51775.09 52704.20 36543.08 USD [+]
GDP From Agriculture 152.50 160.10 235.10 123.30 USD Billion [+]
GDP From Construction 798.10 784.90 798.10 528.70 USD Billion [+]
GDP From Manufacturing 2193.70 2181.00 2193.70 1679.40 USD Billion [+]
GDP From Mining 293.30 271.60 476.10 197.60 USD Billion [+]
GDP From Public Administration 2415.30 2402.20 2415.30 1705.00 USD Billion [+]
GDP From Services 13016.50 12875.60 13016.50 8469.60 USD Billion [+]
GDP From Transport 572.10 565.90 572.10 357.50 USD Billion [+]
GDP From Utilities 292.50 293.90 296.60 193.00 USD Billion [+]


United States GDP Growth Rate Notes

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 June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.20 2.10 16.90 -10.00 1947 - 2017 percent Quarterly



gdp growth rate by Country

Last
India 1.50 Mar/17
Turkey 1.40 Mar/17
China 1.30 Mar/17
United States 1.20 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15