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

The US economy expanded an annualized 3.2 percent on quarter in the third quarter of 2017, slightly below a second estimate of 3.3 percent and lower than market expectations of 3.3 percent, the final reading from the BEA showed. Still, it is the highest growth rate since the first quarter of 2015. The contribution from both personal consumption and net trade was lower than initially expected while spending from government was revised much higher 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 Revised Slightly Down to 3.2%


The US economy expanded an annualized 3.2 percent on quarter in the third quarter of 2017, slightly below a second estimate of 3.3 percent and lower than market expectations of 3.3 percent, the final reading from the BEA showed. Still, it is the highest growth rate since the first quarter of 2015. The contribution from both personal consumption and net trade was lower than initially expected while spending from government was revised much higher.

Personal consumption expenditure (PCE) contributed 1.49 percentage points to growth (1.6 percent in the second estimate) and rose 2.2 percent (2.3 percent in the second estimate). Services expanded less than expected (1.1 percent compared to 1.5 percent in the second estimate) while faster growth was seen for both nondurable (2.3 percent compared to 2 percent in the second estimate) and durable goods (8.6 percent compared to 8.1 percent in the second estimate).   

Fixed investment added 0.40 percentage points to growth (0.39 percentage points in the second estimate) and increased 2.4 percent, unchanged form the previous estimate. Investment rose more for equipment (10.8 percent compared to 10.4 percent in the second estimate) and shrank less for residential (-4.7 percent compared to -5.1 percent). On the other hand, it went up less for intellectual property products (5.2 percent compared to 5.8 percent) and fell more for structures (-7 percent compared to -6.8 percent). 

Private inventories added 0.79 percentage points to growth, compared to 0.8 percent in the second estimate. 

Meanwhile, exports went up at a slower 2.1 percent (2.2 percent in the second estimate) and imports shrank 0.7 percent, less than a 1.1 percent drop in the second estimate. As a result, the impact from trade was revised down to 0.36 percent from 0.43 percent. 

Government spending and investment added 0.12 percentage points to growth, compared to 0.07 percentage points. It increased 0.7 percent, compared to an initial estimate of a 0.4 percent rise. 


BEA | Joana Taborda | joana.taborda@tradingeconomics.com
12/21/2017 2:06:13 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-10-27 12:30 PM GDP Growth Rate QoQ Adv 3.0% 3.1% 3.3% 2.0%
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 3.2% 3% 2.9%
2018-02-28 01:30 PM GDP Growth Rate QoQ 2nd Est 3.2%
2018-03-28 12:30 PM GDP Growth Rate QoQ Final 3.2%


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.20 3.10 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.30 2.20 13.40 -4.10 percent [+]
GDP 18624.48 18120.71 18624.48 543.30 USD Billion [+]
GDP Constant Prices 17163.89 17031.09 17163.89 2084.56 USD Billion [+]
Gross National Product 17352.84 17198.04 17352.84 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2915.80 2898.46 2915.80 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 January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.10 16.90 -10.00 1947 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
United States 3.20 Sep/17
Indonesia 3.18 Sep/17
China 1.60 Dec/17
South Korea 1.50 Sep/17
India 1.40 Jun/17
Turkey 1.20 Sep/17
Russia 1.08 Jun/17
Germany 0.80 Sep/17
Spain 0.80 Sep/17
Australia 0.60 Sep/17
Euro Area 0.60 Sep/17
France 0.60 Sep/17
Japan 0.60 Sep/17
Switzerland 0.60 Sep/17
Canada 0.40 Sep/17
Italy 0.40 Sep/17
Netherlands 0.40 Sep/17
United Kingdom 0.40 Sep/17
Brazil 0.10 Sep/17
Mexico -0.30 Sep/17


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