The US economy grew by an annualized 6.4 percent in the first quarter, matching the advance estimate and following a 4.3 percent expansion in the previous three-month period. Markets were expecting a higher reading of 6.5 percent. Upward revisions to consumer spending and nonresidential fixed investment were offset by downward revisions to exports and private inventory investment. Imports were revised up. PCE prices however, were revised higher. The annual PCE inflation was 3.7 percent, above 3.5 percent in the advance estimate and the core was 2.5 percent, above 2.3 percent. The upward revision was led by used motor vehicle prices. source: U.S. Bureau of Economic Analysis
GDP Growth Rate in the United States averaged 3.18 percent from 1947 until 2021, reaching an all time high of 33.40 percent in the third quarter of 2020 and a record low of -31.40 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
GDP Growth Rate in the United States is expected to be 12.90 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 1.70 in 12 months time. In the long-term, the United States GDP Growth Rate is projected to trend around 1.70 percent in 2022 and 1.90 percent in 2023, according to our econometric models.