The US economy expanded 3% year-on-year in the third quarter of 2023, slightly higher than 2.9% in the advance estimate, and above 2.4% in Q2. GDP Annual Growth Rate in the United States averaged 3.15 percent from 1948 until 2023, reaching an all time high of 13.40 percent in the fourth quarter of 1950 and a record low of -7.50 percent in the second quarter of 2020. source: U.S. Bureau of Economic Analysis

The Gross Domestic Product (GDP) in the United States expanded 2.90 percent in the third quarter of 2023 over the same quarter of the previous year.

The Gross Domestic Product (GDP) in the United States expanded 2.90 percent in the third quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in the United States is expected to be 2.40 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 Annual Growth Rate is projected to trend around 2.20 percent in 2024 and 1.10 percent in 2025, according to our econometric models.

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United States GDP Annual Growth Rate


Related Last Previous Unit Reference
GDP Growth Rate 5.20 2.10 percent Sep 2023
GDP Annual Growth Rate 3.00 2.40 percent Sep 2023
Government Spending 3840.95 3789.80 USD Billion Sep 2023
GDP Constant Prices 22506.37 22225.40 USD Billion Sep 2023
Consumer Spending 15479.54 15343.60 USD Billion Sep 2023
Gross National Product 22660.58 22384.63 USD Billion Sep 2023
Gross Fixed Capital Formation 3978.96 3955.90 USD Billion Sep 2023
Changes in Inventories 83.89 14.93 USD Billion Sep 2023
Full Year GDP Growth 1.90 5.80 percent Dec 2022
GDP from Utilities 364.00 323.20 USD Billion Jun 2023
GDP from Transport 729.00 715.50 USD Billion Jun 2023
GDP from Services 16096.70 16058.40 USD Billion Jun 2023
GDP from Public Administration 2550.50 2544.20 USD Billion Jun 2023
GDP from Mining 292.80 274.70 USD Billion Jun 2023
GDP from Manufacturing 2262.30 2227.10 USD Billion Jun 2023
GDP from Construction 820.30 809.40 USD Billion Jun 2023
GDP from Agriculture 182.10 180.50 USD Billion Jun 2023

United States GDP Annual Growth Rate
The United States is the world’s largest economy. Yet, in the last two decades, like in the case of many other developed nations, its growth rates have been decreasing. If in the 50’s and 60’s the average growth rate was above 4 percent, in the 70’s and 80’s dropped to around 3 percent. In the last ten years, the average rate has been below 2 percent and since the second quarter of 2000 has never reached the 5 percent level.
Actual Previous Highest Lowest Dates Unit Frequency
3.00 2.40 13.40 -7.50 1948 - 2023 percent Quarterly