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

The US economy advanced an annualized 4.2 percent on quarter in the second quarter of 2018, slightly higher than a preliminary reading of 4.1 percent, beating market forecasts of 4 percent, the second estimate showed. The reading primarily reflects upward revisions to nonresidential fixed investment and private inventory investment that were partly offset by a downward revision to personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation, were also revised down. 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.

United States GDP Growth Rate
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US GDP Growth Revised Higher to 4.2% in Q2


The US economy advanced an annualized 4.2 percent on quarter in the second quarter of 2018, slightly higher than a preliminary reading of 4.1 percent and beating market forecasts of 4 percent, the second estimate showed. It is the highest growth rate since the third quarter of 2014, as nonresidential fixed investment rose more than anticipated, mainly boosted by software and information processing equipment and imports fell, mainly due to petroleum.

Personal consumption expenditure (PCE) contributed 2.55 percentage points to growth (2.69 percentage points in the first estimate) and rose 3.8 percent (4 percent in the first estimate). Spending on both durables (8.6 percent compared to 9.3 percent in the first estimate) and nondurable goods (3.7 percent compared to 4.2 percent) rose less than expected while services growth matched estimates (at 3.1 percent).

Fixed investment added 1.07 percentage points to growth (0.94 percentage points in the first estimate) and increased 6.2 percent (5.4 percent in the first estimate). Investment rose more than anticipated for equipment (4.4 percent compared to 3.9 percent) and intellectual property products (11 percent compared to 8.2 percent) but increased slightly less for structures (13.2 percent compared to 13.3 percent) and fell more for residential (-1.6 percent compared to -1.1 percent).

The contribution from private inventories was -0.97 percent, compared to -1 percent in the first estimate. 

Exports jumped 9.1 percent (9.3 percent in the first estimate) and imports declined 0.4 percent (+0.5 percent in the first estimate). As a result, the impact from trade was 1.17 percent, better than 1.06 percent in the first estimate and the highest contribution since the last three months of 2013.

Government spending and investment added 0.41 percentage points to growth, slightly higher than 0.37 percentage points in the first estimate. It increased 2.3 percent, above 2.1 percent in the previous release.


BEA | Joana Taborda | joana.taborda@tradingeconomics.com
8/29/2018 1:15:46 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-06-28 12:30 PM GDP Growth Rate QoQ Final 2% 2.9% 2.2% 2.2%
2018-07-27 12:30 PM GDP Growth Rate QoQ Adv 4.1% 2.2% 4.1% 3%
2018-08-29 12:30 PM GDP Growth Rate QoQ 2nd Est 4.2% 2.2% 4% 4%
2018-09-27 12:30 PM GDP Growth Rate QoQ Final 2.2% 4.2% 4.2%
2018-10-26 12:30 PM GDP Growth Rate QoQ Adv 2.6%
2018-11-28 01:30 PM GDP Growth Rate QoQ 2nd Est


United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 4.20 2.20 16.70 -10.00 percent [+]
GDP Annual Growth Rate 2.90 2.60 13.40 -3.90 percent [+]
GDP 19390.60 18624.48 19390.60 543.30 USD Billion [+]
GDP Constant Prices 18514.60 18324.00 18514.60 2184.87 USD Billion [+]
Gross National Product 18767.67 17551.88 18767.67 2098.40 USD Billion [+]
Gross Fixed Capital Formation 3320.71 3271.31 3320.71 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 149.90 151.70 171.40 108.80 USD Billion [+]
GDP From Construction 666.90 660.50 782.90 537.30 USD Billion [+]
GDP From Manufacturing 2000.40 1983.60 2000.40 1693.50 USD Billion [+]
GDP From Mining 392.50 387.40 414.30 203.70 USD Billion [+]
GDP From Public Administration 2083.90 2086.70 2086.70 1981.00 USD Billion [+]
GDP From Services 11785.60 11731.40 11785.60 9331.20 USD Billion [+]
GDP From Transport 485.70 478.20 485.70 386.90 USD Billion [+]
GDP From Utilities 278.70 283.40 291.00 239.60 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 September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
4.20 2.20 16.70 -10.00 1947 - 2018 percent Quarterly




GDP growth rate by Country
Country Last
Indonesia 4.21 Jun/18
United States 4.20 Jun/18
India 1.90 Mar/18
China 1.80 Jun/18
Australia 0.90 Jun/18
Turkey 0.90 Jun/18
Russia 0.85 Mar/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
Singapore 0.60 Jun/18
South Korea 0.60 Jun/18
Spain 0.60 Jun/18
Germany 0.50 Jun/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Brazil 0.20 Jun/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Saudi Arabia -0.05 Mar/18
Mexico -0.20 Jun/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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