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

The US economy expanded an annualized 2.6 percent on quarter in the last quarter of 2017, below 3.2 percent in the previous period and market expectations of 3 percent, the advance estimate from the BEA showed. The deceleration in real GDP growth in the fourth quarter reflected a downturn in private inventory investment that was partly offset by accelerations in PCE, exports, nonresidential fixed investment, state and local government spending, and federal government spending, and an upturn in residential fixed investment. Imports turned up. 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
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




US GDP Growth Lower than Expected in Q4


The US economy expanded an annualized 2.6 percent on quarter in the last quarter of 2017, below 3.2 percent in the previous period and market expectations of 3 percent, the advance estimate from the BEA showed. Consumer spending rose the most in six quarters and residential investment rebounded while inventories weighed down on the growth and a surge in imports brought the net trade contribution to negative. Considering full 2017, the economy expanded 2.3 percent, higher than 1.5 percent in 2016.

Personal consumption expenditure (PCE) contributed 2.58 percentage points to growth (1.49 percent in the previous period) and rose 3.8 percent (2.2 percent in the previous period). Faster increases were seen for services (1.8 percent compared to 1.1 percent in the previous period); durables (14.2 percent compared to 8.6 percent) and nondurables (5.2 percent compared to 2.3 percent).    

Fixed investment added 1.27 percentage points to growth (0.4 percentage points in the previous period) and increased 7.9 percent (2.4 percent in the previous period). Investment rebounded for residential (11.6 percent compared to -4.7 percent in the previous period) and structures (1.4 percent compared to -7 percent) and rose faster for equipment (11.4 percent compared to 10.8 percent). On the other hand, a slowdown was seen for intellectual property products (4.5 percent compared to 5.2 percent). 

Private inventories subtracted 0.67 percentage points from growth, compared to +0.79 percent in the previous period. 

Meanwhile, exports jumped 6.9 percent (2.1 percent in the previous period) and imports surged 13.9 percent, after falling 0.7 percent in the previous period. As a result, the impact from trade was -1.13 percent from +0.36 percent in the previous period.

Government spending and investment added 0.5 percentage points to growth, compared to 0.12 percentage points. It increased 3 percent, compared to 0.7 percent. 


BEA | Joana Taborda | joana.taborda@tradingeconomics.com
1/26/2018 2:42:07 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-29 01:30 PM GDP Growth Rate QoQ 2nd Est 3.3% 3.1% 3.2% 3.2%
2017-12-21 01:30 PM GDP Growth Rate QoQ Final 3.2% 3.1% 3.3% 3.3%
2018-01-26 01:30 PM GDP Growth Rate QoQ Adv 2.6% 3.2% 2.5% 2.9%
2018-02-28 01:30 PM GDP Growth Rate QoQ 2nd Est 3.2% 2.5% 2.5%
2018-03-28 12:30 PM GDP Growth Rate QoQ Final 3.2%
2018-04-27 12:30 PM GDP Growth Rate QoQ Adv 2.70%


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.60 3.20 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.50 2.30 13.40 -4.10 percent [+]
GDP 18624.48 18120.71 18624.48 543.30 USD Billion [+]
GDP Constant Prices 17272.47 17163.89 17272.47 2084.56 USD Billion [+]
Gross National Product 17352.84 17198.04 17352.84 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2971.88 2915.80 2971.88 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 152.30 153.30 171.40 108.80 USD Billion [+]
GDP From Construction 647.30 649.30 782.90 537.30 USD Billion [+]
GDP From Manufacturing 1958.20 1948.30 1958.20 1693.50 USD Billion [+]
GDP From Mining 378.20 369.60 414.30 203.70 USD Billion [+]
GDP From Public Administration 2086.40 2083.70 2086.40 1981.00 USD Billion [+]
GDP From Services 11666.10 11543.60 11666.10 9331.20 USD Billion [+]
GDP From Transport 471.90 470.90 471.90 386.90 USD Billion [+]
GDP From Utilities 277.50 281.90 291.00 239.60 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 February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.60 3.20 16.90 -10.00 1947 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
United States 2.60 Dec/17
China 1.60 Dec/17
India 1.60 Sep/17
Turkey 1.20 Sep/17
Russia 1.08 Jun/17
Mexico 0.80 Dec/17
Netherlands 0.80 Dec/17
Spain 0.70 Dec/17
Australia 0.60 Sep/17
Euro Area 0.60 Dec/17
France 0.60 Dec/17
Germany 0.60 Dec/17
Switzerland 0.60 Sep/17
Canada 0.40 Sep/17
United Kingdom 0.40 Dec/17
Italy 0.30 Dec/17
Brazil 0.10 Sep/17
Japan 0.10 Dec/17
South Korea -0.20 Dec/17
Indonesia -1.70 Dec/17


Related

Latest