The US economy grew by an annualized 6.4 percent in the first quarter, matching the advance estimate and following a 4.3 percent expansion in the previous three-month period. Markets were expecting a higher reading of 6.5 percent. Upward revisions to consumer spending and nonresidential fixed investment were offset by downward revisions to exports and private inventory investment. Imports were revised up. PCE prices however, were revised higher. The annual PCE inflation was 3.7 percent, above 3.5 percent in the advance estimate and the core was 2.5 percent, above 2.3 percent. The upward revision was led by used motor vehicle prices. 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 June 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
2021-02-25 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 6.4% 4.3% 6.5% 6.4%
2021-06-24 12:30 PM QoQ Final Q1 4.3% 6.4% 6.4%
2021-07-29 12:30 PM QoQ Adv Q2 9%
2021-08-26 12:30 PM QoQ 2nd Est Q2
2021-09-30 12:30 PM QoQ Final Q2


News Stream
OECD Revises Up Growth Forecasts
The Organization for Economic Cooperation and Development expects the global economy to expand 5.8% in 2021 and 4.4% in 2022, as vaccinations gather pace allowing authorities to ease restrictions and economic activity to accelerate while the US pumps trillions of dollars into the world's largest economy. Figures compare with a 5.6% growth for 2021 and a 4% advance for 2022 seen in March. Still, the organization warned the recovery is uneven across countries, with many emerging market economies being held back by slow vaccination deployment and new COVID-19 outbreaks. The US economy is seen growing 6.9% this year (up from 6.5% expected in March), China 8.5% (up from 7.8%), the UK 7.2% (up from 5.1%) and the Euro Area 4.3% (up from 3.9%).
2021-05-31
US GDP Growth Unrevised at 6.4%
The US economy grew by an annualized 6.4 percent in the first quarter, matching the advance estimate and following a 4.3 percent expansion in the previous three-month period. Markets were expecting a higher reading of 6.5 percent. Upward revisions to consumer spending and nonresidential fixed investment were offset by downward revisions to exports and private inventory investment. Imports were revised up. PCE prices however, were revised higher. The annual PCE inflation was 3.7 percent, above 3.5 percent in the advance estimate and the core was 2.5 percent, above 2.3 percent. The upward revision was led by used motor vehicle prices.
2021-05-27
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

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.