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

The US economy expanded an annualized 2.3 percent on quarter in the first quarter of 2018, below 2.9 percent in the previous period but beating market expectations of 2 percent. Still, it s the lowest growth rate in a year, the advance estimate showed. The increase in real GDP reflected positive contributions from nonresidential fixed investment, personal consumption expenditures (PCE), exports, private inventory investment, federal government spending, and state and local government spending. GDP Growth Rate in the United States averaged 3.21 percent from 1947 until 2018, 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.

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US GDP Growth Beats Forecasts in Q1

The US economy expanded an annualized 2.3 percent on quarter in the first quarter of 2018, below 2.9 percent in the previous period but beating market expectations of 2 percent. Still, it is the lowest growth rate in a year, the advance estimate showed. Personal consumption eased amid lower spending on cars, clothing and footwear and residential investment stalled.

Personal consumption expenditure (PCE) contributed 0.73 percentage points to growth (2.75 percentage points in the previous period) and rose 1.1 percent (4 percent in the previous period). Services (2.1 percent compared to 2.3 percent in the previous period) and nondurables (0.1 percent compared to 4.8 percent) slowed and spending on durable goods shrank 3.3 percent, following a 13.7 percent rise in the previous quarter.

Fixed investment added 0.76 percentage points to growth (1.31 percentage points in the previous period) and increased 4.6 percent (8.2 percent in the previous period). Investment slowed for equipment (4.7 percent compared to 11.6 percent) and stalled for residential (12.8 percent in the previous period). On the other hand, it rose faster for structures (12.3 percent compared to 6.3 percent) and intellectual property products (3.6 percent compared to 0.8 percent).

Private inventories added 0.43 percentage points to growth after subtracting 0.53 percent in the previous period.

Meanwhile, both exports (4.8 percent compared to 7 percent) and imports (2.6 percent compared to 14.1 percent) eased. As a result, the impact from trade was 0.2 percent, better than -1.16 percent in the previous period.

Government spending and investment added 0.2 percentage points to growth (0.51 percentage points in the previous period). It increased 1.2 percent, compared to 3 percent.

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
4/27/2018 1:16:28 PM

Recent Releases

US GDP Growth Revised Higher to 2.9% in Q4
The US economy expanded an annualized 2.9 percent on quarter in the last three months of 2017, higher than 2.5 percent in the second estimate and beating market expectations of 2.7 percent. Personal consumption expenditures and private inventory investment were revised up.
Published on 2018-03-28

US GDP Growth Revised Slightly Down to 2.5%
The US economy advanced an annualized 2.5 percent on quarter in the last three months of 2017, below an advance reading of 2.6 percent and 3.2 percent in the previous period. Figures came in line with market expectations. Imports rose more than exports and at the fastest pace since Q3 2010, bringing the net trade contribution to negative. Also, private inventory investment fell more than initially expected. On the other hand, personal spending remained robust and fixed investment growth was revised higher.
Published on 2018-02-28

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.
Published on 2018-01-26

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.
Published on 2017-12-21

Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-02-28	01:30 PM	GDP Growth Rate QoQ 2nd Est	2.5%	3.2%	2.5%	2.5%
2018-03-28	12:30 PM	GDP Growth Rate QoQ Final	2.9%	3.2%	2.7%	2.6%
2018-04-27	12:30 PM	GDP Growth Rate QoQ Adv	2.3%	2.9%	2%	2.2%
2018-05-30	12:30 PM	GDP Growth Rate QoQ 2nd Est		2.9%		2.2%
2018-06-28	12:30 PM	GDP Growth Rate QoQ Final		2.9%
2018-07-27	12:30 PM	GDP Growth Rate QoQ Adv				2.1%

United States GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	2.30	2.90	16.90	-10.00	percent	[+]
GDP Annual Growth Rate	2.90	2.60	13.40	-4.10	percent	[+]
GDP	18624.48	18120.71	18624.48	543.30	USD Billion	[+]
GDP Constant Prices	17385.83	17286.50	17385.83	2084.56	USD Billion	[+]
Gross National Product	17469.21	17352.84	17469.21	2098.40	USD Billion	[+]
Gross Fixed Capital Formation	3007.49	2973.72	3007.49	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	151.70	152.30	171.40	108.80	USD Billion	[+]
GDP From Construction	660.50	647.30	782.90	537.30	USD Billion	[+]
GDP From Manufacturing	1983.60	1958.20	1983.60	1693.50	USD Billion	[+]
GDP From Mining	387.40	378.20	414.30	203.70	USD Billion	[+]
GDP From Public Administration	2086.70	2086.40	2086.70	1981.00	USD Billion	[+]
GDP From Services	11731.40	11666.10	11731.40	9331.20	USD Billion	[+]
GDP From Transport	478.20	471.90	478.20	386.90	USD Billion	[+]
GDP From Utilities	283.40	277.50	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 May of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	2.30	2.90	16.90	-10.00	1947 - 2018	percent	Quarterly

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GDP growth rate by Country

Country	Last		Previous	Highest	Lowest
United States	2.30	Mar/18	2.9	16.9	-10	%	Quarterly
India	1.80	Dec/17	1.8	5.4	-1.7	%	Quarterly
Turkey	1.80	Dec/17	1.3	5.6	-5.2	%	Quarterly
China	1.40	Mar/18	1.6	2.4	1.3	%	Quarterly
Mexico	1.10	Mar/18	0.8	2.9	-5.8	%	Quarterly
South Korea	1.10	Mar/18	-0.2	7.8	-7	%	Quarterly
Spain	0.70	Mar/18	0.7	1.6	-1.6	%	Quarterly
Switzerland	0.60	Dec/17	0.7	2.3	-1.6	%	Quarterly
Netherlands	0.50	Mar/18	0.8	1.7	-3.2	%	Quarterly
Australia	0.40	Dec/17	0.7	4.4	-2	%	Quarterly
Canada	0.40	Dec/17	0.4	3.33	-2.3	%	Quarterly
Euro Area	0.40	Mar/18	0.7	1.3	-2.9	%	Quarterly
France	0.30	Mar/18	0.7	7.7	-5	%	Quarterly
Germany	0.30	Mar/18	0.6	4	-4.5	%	Quarterly
Italy	0.30	Mar/18	0.3	6	-2.8	%	Quarterly
Brazil	0.10	Dec/17	0.2	3.6	-4.1	%	Quarterly
United Kingdom	0.10	Mar/18	0.4	5	-2.7	%	Quarterly
Japan	-0.20	Mar/18	0.1	3.2	-4.9	%	Quarterly
Russia	-0.38	Dec/17	0.04	4.1	-5.4	%	Quarterly
Indonesia	-0.42	Mar/18	-1.7	4.01	-3.57	%	Quarterly