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

The US economy expanded an annualized 2.6% in Q2, following a downwardly revised 1.2% growth in Q1 and matching market expectations. The growth was boosted by a rise in business equipment investment, consumption, and federal government spending. In contrast, residential fixed investment declined and both exports and nonresidential fixed investment slowed. 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 Grows 2.6% in Q2, Matches Forecasts


The US economy advanced an annualized 2.6 percent on quarter in the second quarter of 2017, following a downwardly revised 1.2 percent expansion in the previous period, matching market expectations, an advance estimate showed. The improvement was boosted by strong consumer spending and a rebound in government consumption while exports slowed and housing investment shrank.

Personal consumption expenditure (PCE) contributed 1.93 percentage points to growth (1.32 percent in the previous quarter) and rose 2.8 percent (1.9 percent in the previous quarter). Spending rebounded for durable goods (6.3 percent from -0.1 percent) and increased more for nondurable goods (3.8 percent from 1.1 percent). In contrast, services rose less (1.9 percent from 2.5 percent). 

Fixed investment added 0.36 percentage points to growth (1.27 percentage points in the previous quarter) and increased 2.2 percent, compared to an 8.1 percent expansion in the previous period. Residential investment shrank 6.8 percent (+11.1 percent in the previous quarter) and investment rose less for structures (4.9 percent from 14.8 percent) and intellectual property products (1.4 percent from 5.7 percent). On the other hand, investment in equipment went up at a faster 8.2 percent (from 4.4 percent). 

Private inventories subtracted 0.02 percentage points from growth, much less than 1.46 percent points in the first quarter.

Meanwhile, exports went up 4.1 percent, lower than 7.3 percent in the first quarter and imports rose 2.1 percent, below 4.3 percent in the previous quarter. The impact from trade was 0.18 percent, slightly below 0.22 percent in the previous period. 

Government spending and investment added 0.12 percentage points to growth (-0.11 percent in the previous period) and increased 0.7 percent (-0.6 percent in the previous quarter).

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
7/28/2017 12:57:56 PM


Recent Releases

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Calendar GMT Actual Previous Consensus Forecast (i)
2017-05-26 12:30 PM Q1 1.2% 2.1% 0.9% 0.8%
2017-06-29 12:30 PM Q1 1.4% 2.1% 1.2% 1.3%
2017-07-28 12:30 PM Q2 2.6% 1.2% 2.6% 2.6%
2017-08-30 12:30 PM Q2 1.2% 2.4% 2.6%
2017-09-28 12:30 PM Q2 1.2% 2.6%
2017-10-27 12:30 PM Q3 2.0%


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.60 1.20 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.10 2.00 13.40 -4.10 percent [+]
GDP 18569.10 18036.65 18569.10 543.30 USD Billion [+]
GDP Constant Prices 17010.70 16903.20 17010.70 2084.60 USD Billion [+]
Gross National Product 17081.00 17041.10 17081.00 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2891.40 2875.70 2891.40 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 149.50 152.50 235.10 123.30 USD Billion [+]
GDP From Construction 810.40 798.10 810.40 528.70 USD Billion [+]
GDP From Manufacturing 2208.50 2193.70 2208.50 1679.40 USD Billion [+]
GDP From Mining 327.00 293.30 476.10 197.60 USD Billion [+]
GDP From Public Administration 2439.40 2415.30 2439.40 1705.00 USD Billion [+]
GDP From Services 13092.20 13016.50 13092.20 8469.60 USD Billion [+]
GDP From Transport 574.50 572.10 574.50 357.50 USD Billion [+]
GDP From Utilities 288.00 292.50 296.60 193.00 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 August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.60 1.20 16.90 -10.00 1947 - 2017 percent Quarterly



gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 2.60 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Turkey 1.40 Mar/17
Brazil 1.00 Mar/17
Japan 1.00 Jun/17
Canada 0.90 Mar/17
Spain 0.90 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Australia 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.30 Jun/17
Russia -0.57 Sep/15