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

The US economy expanded an annualized 3 percent on quarter in the third quarter of 2017, beating expectations of 2.5 percent and only slightly below 3.1 percent reported in the previous quarter which was the strongest growth rate since the first three months of 2015. Positive contributions from personal consumption expenditures (PCE), private inventory investment, nonresidential fixed investment, exports, and federal government spending were partly offset by negative contributions from residential fixed investment and 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 Rate at 3% in Q3, Beats Forecasts


The US economy expanded an annualized 3 percent on quarter in the third quarter of 2017, only slightly below 3.1 percent in the previous three months, which was the fastest pace since Q1 2015, the advance estimate showed. Figures beat expectations of 2.5 percent, despite the disruptions caused by hurricanes Harvey and Irma. Inventories rose sharply and trade made the biggest contribution to growth in nearly four years amid a fall in imports. It helped to offset a slowdown in consumer spending and fixed investment and a drop in construction.

Personal consumption expenditure (PCE) contributed 1.62 percentage points to growth (2.24 percent in Q2) and rose 2.4 percent (3.3 percent in Q2). Spending slowed for nondurable goods (2.1 percent compared to 4.2 percent) and services (1.5 percent compared to 2.3 percent) but rose faster for durable goods (8.3 percent compared to 7.6 percent).

Fixed investment added 0.25 percentage points to growth (0.53 percentage points in Q2) and increased 1.5 percent, compared to a 3.2 percent expansion in the second quarter. Investment rose less for equipment (8.6 percent compared to 8.8 percent) and shrank for structures (-5.2 percent compared to 7 percent) and residential (-6 percent compared to -7.3 percent) but rose faster for intellectual property products (4.3 percent compared to 3.7 percent). 

Private inventories added 0.73 percentage points to growth, compared to 0.12 percent in the second quarter. 

Meanwhile, exports went up at a slower 2.3 percent (3.5 percent in Q2) and imports shrank 0.8 percent, the sharpest decline in three years. As a result, the impact from trade was 0.41 percent, much higher than 0.21 percent in the second quarter and the biggest since the last quarter of 2013. 

Government spending and investment subtracted 0.02 percentage points from growth, compared to a 0.03 percentage point drag in the previous quarter. It fell 0.1 percent compared to a 0.2 percent drop in the second quarter. 

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
10/27/2017 1:11:40 PM



Calendar GMT Actual Previous Consensus TEForecast
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 3.1% 1.2% 3% 3%
2017-10-27 12:30 PM GDP Growth Rate QoQ Adv 3.0% 3.1% 3.2% 2.0%
2017-11-29 01:30 PM GDP Growth Rate QoQ 2nd Est 3.1% 3.2% 3.2%
2017-12-21 01:30 PM GDP Growth Rate QoQ Final 3.1% 3.2%


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.00 3.10 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.30 2.20 13.40 -4.10 percent [+]
GDP 18569.10 18036.65 18569.10 543.30 USD Billion [+]
GDP Constant Prices 17156.90 17031.10 17156.90 2084.60 USD Billion [+]
Gross National Product 17198.00 17081.00 17198.00 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2909.40 2898.50 2909.40 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 174.50 149.50 235.10 123.30 USD Billion [+]
GDP From Construction 818.60 810.40 818.60 528.70 USD Billion [+]
GDP From Manufacturing 2218.60 2208.50 2218.60 1679.40 USD Billion [+]
GDP From Mining 321.20 327.00 476.10 197.60 USD Billion [+]
GDP From Public Administration 2457.50 2439.40 2457.50 1705.00 USD Billion [+]
GDP From Services 13259.70 13092.20 13259.70 8469.60 USD Billion [+]
GDP From Transport 588.20 574.50 588.20 357.50 USD Billion [+]
GDP From Utilities 296.60 288.00 296.60 193.00 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 November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.10 16.90 -10.00 1947 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
Indonesia 3.18 Sep/17
United States 3.00 Sep/17
Turkey 2.10 Jun/17
China 1.70 Sep/17
India 1.40 Jun/17
South Korea 1.40 Sep/17
Canada 1.10 Jun/17
Russia 1.08 Jun/17
Australia 0.80 Jun/17
Germany 0.80 Sep/17
Spain 0.80 Sep/17
Euro Area 0.60 Sep/17
France 0.50 Sep/17
Italy 0.50 Sep/17
Netherlands 0.40 Sep/17
United Kingdom 0.40 Sep/17
Japan 0.30 Sep/17
Switzerland 0.30 Jun/17
Brazil 0.20 Jun/17
Mexico -0.20 Sep/17