The US economy expanded an annualized 2.1% on quarter in Q3 2021, slightly higher than 2% in the advance estimate, but below forecasts of 2.2%. Personal consumption increased more than initially expected (1.7% vs 1.6% in the advance estimate), mainly boosted by international travel, transportation services, and healthcare while spending on motor vehicles and parts declined. Private inventories added 2.13 percentage points to the growth (vs 2.07 percentage points in the advance estimate), led by wholesale trade (namely nondurable goods industries) and retail trade (namely motor vehicles and parts dealers). On the other hand, nonresidential investment rose less than in the advance estimate (1.5% vs 1.8%) and residential one shrank faster (-8.3% vs -7.7%). Meanwhile, net exports subtracted 1.16 percentage points from the growth (vs -1.14 percentage points in the advance estimate) as exports declined 3% (vs -2.5%) and imports surged 5.8% (vs 6.1%). 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 33.80 percent in the third quarter of 2020 and a record low of -31.20 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 November of 2021.
GDP Growth Rate in the United States is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.