The US economy advanced an annualized 3.5 percent on quarter in the third quarter of 2018, beating market expectations of 3.3 percent, the advance estimate showed. It follows a 4.2 percent growth in the previous period which was the highest since the third quarter of 2014. The increase in real GDP reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, state and local government spending, federal government spending, and nonresidential fixed investment that were partly offset by negative contributions from exports and residential fixed investment. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2018, 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 2.80 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 2.70 in 12 months time. In the long-term, the United States GDP Growth Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.