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.

United States GDP Growth Rate
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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



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




GDP growth rate by Country
Country Last
United States 2.30 Mar/18
India 1.80 Dec/17
Turkey 1.80 Dec/17
China 1.40 Mar/18
Mexico 1.10 Mar/18
South Korea 1.10 Mar/18
Spain 0.70 Mar/18
Switzerland 0.60 Dec/17
Netherlands 0.50 Mar/18
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Euro Area 0.40 Mar/18
France 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
Brazil 0.10 Dec/17
United Kingdom 0.10 Mar/18
Japan -0.20 Mar/18
Russia -0.38 Dec/17
Indonesia -0.42 Mar/18


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