United States GDP Growth Rate  1947-2017 | Data | Chart | Calendar

The US economy expanded an annualized 1.4 percent on quarter in the first three months of 2017, better than 1.2 percent in the second estimate, as consumer spending and exports increased more than previously anticipated. On the other hand, non-residential investment was revised lower and the drag from inventories was higher than initially estimated. 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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Calendar GMT Actual Previous Consensus Forecast (i)
2017-04-28 12:30 PM Q1 0.7% 2.1% 1.1% 1.3%
2017-05-26 12:30 PM Q1 1.2% 2.1% 0.9% 0.8%
2017-06-29 12:30 PM Q1 1.4% 2.1% 1.2% 1.3%
2017-07-28 12:30 PM Q2 1.4% 2.6% 2.6%
2017-08-30 12:30 PM Q2 1.4% 2.6%
2017-09-28 12:30 PM Q2 1.4% 2.6%




US GDP Growth Revised Up to 1.4% In Q1


The US economy expanded an annualized 1.4 percent on quarter in the first three months of 2017, better than 1.2 percent in the second estimate, as consumer spending and exports increased more than previously anticipated. On the other hand, non-residential investment was revised lower and the drag from inventories was higher than initially estimated.

Personal consumption expenditure (PCE) contributed 0.75 percentage points to growth (0.44 percent in the previous estimate) and rose 1.1 percent (0.6 percent in the previous estimate). Spending increased more than anticipated for services (1.4 percent from 0.8 percent in the previous estimate) and nondurable goods (1.6 percent from 1.2 percent) but fell more for durable goods (-1.6 percent from –1.4 percent).  

Fixed investment added 1.71 percentage points to growth (1.85 percentage points in the earlier estimate) and increased 11 percent, compared to an 11.9 percent expansion in the previous release. Investment rose less for housing (13 percent from 13.8 percent), structures (22.6 percent from 28.4 percent) and intellectual property products (6.4 percent from 6.7 percent) but increased faster for equipment (7.8 percent from 7.2 percent). 

Private inventories subtracted 1.11 percentage points from growth, more than 1.07 percent points in the second estimate. 

Meanwhile, exports went up 7 percent, higher than 5.8 percent in the second estimate and imports rose 4 percent, above 3.8 percent earlier estimated, bringing the impact from trade higher to 0.23 percent (0.13 percent).

Government spending and investment subtracted 0.16 percentage points from growth (-0.2 percent in the previous release) and shrank 0.9 percent (-1.1 percent in the second estimate).

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
6/29/2017 12:52:28 PM


Recent Releases

US GDP Growth Revised Up to 1.2% In Q1
The US economy expanded an annualized 1.2 percent on quarter in the first three months of 2017, better than the advance estimate of 0.7 percent growth and beating market expectations of 0.9 percent, figures from the second estimate showed. It is the lowest growth rate in a year, better than the weakest first-quarter growth in three years initially estimated. Consumer spending and nonresidential fixed investment rose faster than anticipated and the drag from public spending and investment was lower than initially estimated. In contrast, private inventories decreased more.
Published on 2017-05-26

US Q1 GDP Growth Weakest Since 2014
The US economy grew an annualized 0.7 percent on quarter in the first quarter of 2017, following a 2.1 percent expansion in the previous period and below expectations of 1.1 percent, an advance estimate showed. The deceleration in real GDP in the first quarter reflected a deceleration in PCE and downturns in private inventory investment and in state and local government spending that were partly offset by an upturn in exports and accelerations in both nonresidential and residential fixed investment.
Published on 2017-04-28

US GDP Growth Revised Up To 2.1% In Q4
The US economy advanced an annualized 2.1 percent on quarter in the fourth quarter of 2016, higher than 1.9 percent in the previous estimates, final figures showed. Consumer spending and inventories increased faster than anticipated while investment rose less and net trade subtracted more from growth. In 2016, the GDP expanded 1.6 percent, the lowest since 2011.
Published on 2017-03-30

US GDP Growth Confirmed At 1.9% In Q4
The US economy advanced an annualized 1.9 percent on quarter in the last three months of 2016, slowing from a 3.5 percent growth in the previous period and matching earlier estimates. Consumer spending rose faster than anticipated while business investment was revised lower. In 2016, the GDP expanded 1.6%, the lowest since 2011.
Published on 2017-02-28



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 2.10 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.10 2.00 13.40 -4.10 percent [+]
GDP 18569.10 18036.65 18569.10 543.30 USD Billion [+]
GDP Constant Prices 16872.80 16813.30 16872.80 2084.60 USD Billion [+]
Gross National Product 17062.80 17017.60 17062.80 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2873.00 2798.90 2873.00 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 149.50 152.50 235.10 123.30 USD Billion [+]
GDP From Construction 810.40 798.10 810.40 528.70 USD Billion [+]
GDP From Manufacturing 2208.50 2193.70 2208.50 1679.40 USD Billion [+]
GDP From Mining 327.00 293.30 476.10 197.60 USD Billion [+]
GDP From Public Administration 2439.40 2415.30 2439.40 1705.00 USD Billion [+]
GDP From Services 13092.20 13016.50 13092.20 8469.60 USD Billion [+]
GDP From Transport 574.50 572.10 574.50 357.50 USD Billion [+]
GDP From Utilities 288.00 292.50 296.60 193.00 USD Billion [+]


United States GDP Growth Rate Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 2.10 16.90 -10.00 1947 - 2017 percent Quarterly



gdp growth rate by Country

Last
China 1.70 Jun/17
India 1.50 Mar/17
Turkey 1.40 Mar/17
United States 1.40 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15