The US economy advanced an annualized 3.1 percent in the first quarter of 2019, slightly below earlier figures of a 3.2 percent expansion and in line with market expectations, the second estimate showed. It follows a 2.2 percent growth in the previous three-month period. Nonresidential fixed investment and private inventory investment were revised lower and while upward revisions were seen exports and personal consumption expenditures. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2019, reaching an all time high of 16.70 percent in the first quarter of 1950 and a record low of -10 percent in the first quarter of 1958.

GDP Growth Rate in the United States is expected to be 2.10 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 1.80 in 12 months time. In the long-term, the United States GDP Growth Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.

United States GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-28 01:30 PM GDP Growth Rate QoQ 2.6% 3.4% 2.5% 2.5%
2019-03-28 12:30 PM GDP Growth Rate QoQ Final 2.2% 3.4% 2.4% 2.7%
2019-04-26 12:30 PM GDP Growth Rate QoQ Adv 3.2% 2.2% 2% 2%
2019-05-30 12:30 PM GDP Growth Rate QoQ 2nd Est 3.1% 2.2% 3.1% 3.2%
2019-06-27 12:30 PM GDP Growth Rate QoQ Final 2.2% 3.1% 3.1%
2019-07-26 12:30 PM GDP Growth Rate QoQ Adv 2.1%
2019-08-29 12:30 PM GDP Growth Rate QoQ 2nd Est 2.1%



US Q1 GDP Growth Revised Down to 3.1%

The US economy advanced an annualized 3.1 percent in the first quarter of 2019, slightly below earlier figures of a 3.2 percent expansion and in line with market expectations, the second estimate showed. It follows a 2.2 percent growth in the previous three-month period.

Personal consumption expenditure (PCE) contributed 0.9 percentage points to growth (0.82 percentage points in the advance estimate) and increased 1.3 percent (1.2 percent in the advance estimate). Spending rose more than expected for services (2.1 percent compared to 2 percent) and fell less than in the advance estimate for durable goods (-4.6 percent compared to -5.3 percent).

Fixed investment made a positive contribution of 0.18 percentage points compared to 0.27 percentage points in the advance estimate and went up 1.0 percent (1.5 percent in the advance estimate). Residential investment dropped more than expected (-3.5 percent compared to -2.8 percent) and investment for equipment fell (-1 percent compared to 0.2 percent). Also, investment rose less for intellectual property products (7.2 percent compared to 8.6 percent). Meanwhile, investment in instructures rose 1.7 percent compared to a 0.8 percent fall in the advance estimate.

The contribution from private inventories turned less positive than previously expected (0.60 percentage points compared to 0.65 percentage points in the advance estimate).

Exports jumped 4.8 percent (3.7 percent in the advance estimate), driven by sales of both goods (6.3 percent) and services (2 percent). On the other hand, imports decreased 2.5 percent (-3.7 percent in the advance estimate), as purchases of goods plunged (-3.1 percent) while imports of services went up (0.3 percent). As a result, the impact from trade was 0.96 percent, compared to 1.03 percent in the advance estimate.

Government spending and investment added 0.42 percentage points to growth, above 0.41 percentage points in the previous release. It went up 2.5 percent, higher than 2.4 percent in the advance estimate.


BEA | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/30/2019 1:17:24 PM


News

US Q1 GDP Growth Beats Forecasts
The US economy grew by an annualized 3.2 percent in the first quarter of 2019, easily beating market expectations of 2 percent and following a 2.2 percent expansion in the previous three-month period.
Published on 2019-04-26

US GDP Growth Revised Down to 2.2%
The US economy advanced an annualized 2.2 percent on quarter in the fourth quarter of 2018, well below a 2.6 percent growth in the previous estimate and 3.4 percent in the previous period. It compares with market expectations of 2.4 percent. Personal consumption expenditure and nonresidential fixed investment rose less than expected and public spending declined. On the other hand, the drag from net trade was smaller than anticipated as exports rose more and imports increased at a softer pace. Considering full 2018, the economy advanced 2.9 percent, the most since 2015, and above 2.2 percent in 2017.
Published on 2019-03-28

US GDP Growth Slows Less Than Expected
The US economy advanced an annualized 2.6 percent on quarter in the fourth quarter of 2018, beating market expectations of a 2.4 percent growth, the initial estimate showed. Fixed investment rose faster, consumer spending remained robust and the drag from net trade was smaller. Considering full 2018, the economy advanced 2.9 percent, above 2.2 percent in 2017 and the highest growth rate since 2015.
Published on 2019-02-28

US GDP Growth Revised Down to 3.4% in Q3
The US economy advanced an annualized 3.4 percent on quarter in the third quarter of 2018, slightly below earlier estimates of a 3.5 percent growth, final figures showed. It follows a 4.2 percent expansion in the previous period which was the highest since the third quarter of 2014. Personal spending was revised slightly lower and net trade dragged down more on growth than initially estimated while inventory accumulation was higher than expected.
Published on 2018-12-21



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.10 2.20 16.70 -10.00 percent [+]
GDP Annual Growth Rate 3.20 3.00 13.40 -3.90 percent [+]
GDP 19485.39 18707.19 19485.39 543.30 USD Billion [+]
GDP Constant Prices 18907.50 18765.26 18907.50 2184.87 USD Billion [+]
Gross National Product 19132.94 19007.61 19132.94 2199.23 USD Billion [+]
Gross Fixed Capital Formation 3365.87 3357.50 3365.87 1215.60 USD Billion [+]
GDP per capita 53128.54 52319.20 53128.54 17036.90 USD [+]
GDP per capita PPP 54225.45 53399.40 54225.45 36543.08 USD [+]
GDP From Agriculture 213.70 212.00 236.10 168.40 USD Billion [+]
GDP From Construction 642.70 646.00 794.50 531.70 USD Billion [+]
GDP From Manufacturing 2154.90 2139.80 2154.90 1798.60 USD Billion [+]
GDP From Mining 465.80 429.80 472.80 241.80 USD Billion [+]
GDP From Public Administration 2179.80 2180.70 2188.00 2089.50 USD Billion [+]
GDP From Services 12887.20 12821.80 12887.20 9734.70 USD Billion [+]
GDP From Transport 543.50 545.70 545.70 429.60 USD Billion [+]
GDP From Utilities 281.30 280.80 291.30 217.20 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 2.20 16.70 -10.00 1947 - 2019 percent Quarterly




Country Last Previous
Singapore 3.80 Mar/19
United States 3.10 Mar/19
India 1.60 Dec/18
China 1.40 Mar/19
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Russia 0.80 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19


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